Bell Helicopter has announced that a new agreement has been reached with UAW Local 218.  The three year contract was ratified by the membership at a vote taken Sunday, June 25, 2006. Officials from the Union notified Bell of the acceptance vote late Sunday afternoon. The vote was 67% in favor.

"The ratification of this new contract is a significant event in the continued competitiveness of Bell Helicopter." said P.D. Shabay, Executive Vice President, Administration and Chief Human Resources Officer. "Both sides worked to reach a compromise that will help enhance the future for all Bell Helicopter employees for years to come."

The contract calls for a 3 percent general wage increase for UAW Local 218 retroactive to June 11, 2006, and 3 percent again in 2007 and 2008.

Lump-sum payments of $3,500 will be paid to members of UAW, Local 218 on July 7, 2006. Members' eligibility for the lump-sum payment is based on their date of employment.

The basic pension formula for employees retiring on or after Sept.1, 2006, under the early or normal retirement provisions of the plan, increased to $60 from $51 per year of credited service.

A choice of three health care plans was offered to UAW Local 218 membership. Whichever plan the individual member chooses will be effective Jan.1, 2007. The plans offered are the Consumer Healthcare Preferred Provider Organization (PPO), the Health Maintenance Organization (HMO) Plus and a Traditional HMOs.

The contract affects approximately 2,400 Bell employees in UAW Local 218, which represents about 25 percent of the Bell worldwide workforce of 10,000.

FMI: www.bellheli.com, www.textron.com