TEXT-S&P issues report on auto suppliers

Newswire

(The following statement was released by the rating agency) NEW YORK, Oct 28 - In recent weeks, U.S. workers at auto parts suppliers Visteon Corp. and Delphi Corp. ratified new four-year labor contracts with the United Auto Workers (UAW). Wage and benefit contract terms mirror those of the original equipment manufacturers' contracts, according to a report published today by Standard & Poor's Ratings Services. However, Visteon and Delphi will continue to have very high cost structures ...

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