FOX Business’ Grady Trimble speaks with Homeyer Precision Manufacturing president Tim Wetzel on the state of the industry.
Union workers reached a deal with Raytheon subsidiary Pratt & Whitney at two Connecticut jet engine manufacturing plants on Sunday.
The three-year contract that was approved by about 3,000 members of the International Association of Machinists and Aerospace Workers calls for wage increases, better vacation policies, increased job security, and improved health care coverage, according to the union.
An exterior view of Pratt & Whitney’s main production area is shown in East Hartford, Connecticut. (Photo by Bob Falcetti/Getty Images / Getty Images)
“This negotiating committee studied, prepared, and executed the very best for our membership,” IAM District 26 Chief Negotiator Jeff Santini said in a statement after the vote.
“As a result, we have made solid gains in nearly every aspect of our agreement and maintained previous important language.”
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The two facilities manufacture engines for Raytheon’s F-35 joint strike fighter, Airbus’s A320 commercial airliner, and Boeing’s KC-46 air refueling tanker.
A Pratt & Whitney PW1200G test jet engine mounted to a stunted wing is attached to the company’s 747 test platform in Windsor Locks, Connecticut. (Michael McAndrews/Hartford Courant/Tribune News Service via Getty Images / Getty Images)
The aerospace industry has been hit hard by supply chain issues in recent months.
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Raytheon CEO Greg Hayes said in February that Pratt & Whitney may not deliver 70 engines to Airbus due to casting shortages.
Reuters contributed to this report.