United Auto Workers President Ron Gettelfinger and UAW Vice President General Holiefield, director of the union'sLLC department, say in a statement today talks with Chrysler and Italy’s Auto Group are ongoing.
No agreement has been finalized, the two labor officials say, contrary to some media reports.
"We are continuing to work towards an agreement that will be in the best interests ofworkers, retirees and the communities where the company does business," Gettelfinger says.
also is denying a reported comment by an Italian union leader that an agreement to form a partnership between the two companies is nearly complete, Reuters reports. A spokesman for the auto maker says in a statement the talks are "totally open," and that it’s not possible to foresee the outcome.
Chrysler faces an April 30 U.S. Treasury Dept. deadline to complete an alliance deal with Fiat that requires concessions from the UAW and lenders.
The Wall Street Journal says the auto maker owes about $6.9 billion to debt holders, which are seeking a sizable equity stake in Chrysler and a seat on the proposed new company’s board in return for cutting the amount of the secured debt.