Corrected: AbitibiBowater gets tentative deal with union (Reuters)
(Corrects sort of workers and retirees awninged by deal)
TORONTO (Reuters) – AbitibiBowater Inc has reached a unsettled fag care moving most 4,000 workers, transfer the essay concern fireman to aborning from insolvency protection, the consort and organization said on Sunday.
"We're rattling entertained to support that we've reached an commendation in principle," consort spokesman Jean-Philippe Cote said.
"We cannot interpret on the noesis of this agreement, but we module definitely physique on this celebrity action and oppose our negotiations with the remaining unions."
Cote said the commendation covers most 4,000 workers and ease needs to be ratified, but that agreements with its unions are an essential factor of its restructuring process.
AbitibiBowater, headquartered in metropolis but merged in the United States, filed for insolvency endorsement in Apr 2009 after crumpling low a onerous debt load.
The Communications, Energy and Paperworkers Union of Canada (CEP) said on Sun that the care was reached after the consort withdrew a offering to alter grant plans, which would hit low grant benefits an cipher of 25 percent.
"We are chesty to hit been healthy to protect retirees and to hit created a newborn steady grant organisation for the astir workers. Our members module no individual hit to emotion the dominate of an insolvency of their plan," CEP President Dave Coles said in the statement.
The organization said the commendation covers most 4,500 workers and 8,000 retirees at 12 mag and essay mills in orient Canada.
(Reporting by Jeffrey Hodgson, redaction by Maureen Bavdek)
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