Midwesco® and the UAW Announces Ratification of New Labor Agreement.
October 2, 2006
Winchester, VA, October 2, 2006: Midwesco® Filter Resources, Inc. (NASDAQ NM: MFRI) a global supplier of industrial air filtration products and services announced today that the UAW Local 1748 members have ratified another three year labor agreement that will be effective through October, 2009.
“We are extremely pleased with this agreement,” said Midwesco President, Gene Ogilvie. “Due to a good working relationship with our local UAW union, we were able to work together through amicable negotiations to come up with a contract that was agreeable for everyone involved. The agreement resulted in wage increases that are commensurate with the cost-of-living index.”
Midwesco® Filter Resources, Inc., a global air filtration industry leader based in Winchester, VA, manufactures and distributes air filtration filters in 100 market segments across six continents. We maintain a large diversified inventory of custom made dust collector and baghouse filter bags, cartridges, pleated elements, and baghouse accessories in our global manufacturing facilities residing in Winchester, VA; Cicero, IL; Nakskov, Denmark, and Nigel, South Africa for critical delivery.
Midwesco’s mission along with our subsidiaries, TDC Filter, Nordic Air Filtration and Nordic Midwesco are committed to providing you with the most cost-effective, highest value proven products and services available that will enhance your baghouse and dust collector system performance. It is through continuous pursuit for excellence in our manufacturing processes, raw material acquisition, and technically experienced field service crews and staff that Midwesco® Filter can bring you quality products and savings. Midwesco® welcomes all enquiries at 540.667.8500. For more information, visit our website at www.midwescofilter.com.
Statements and other information contained in this announcement which can be identified by the use of forward-looking terminology such as “anticipate,” “may,” “will,” “expect,” “continue,” “remain,” “intend,” “aim,” “should,” “prospects,” “could,” “future,” “potential,” believes,” “plans,” “likely,” and “probable,” or the negative thereof or other variations thereon or comparable terminology, constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 as amended and are subject to the safe harbors created thereby. These statements should be considered as subject to the many risks and uncertainties that exist in the Company’s operations and business environment. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.