US: Teamsters approve MillerCoors contracts

2 June 2009 | Source: just-drinks.com editorial team

The Teamsters trade union at MillerCoors breweries in Eden, and Fort Worth, Texas, has ratified the brewer's new three-year contracts for workers.

The agreements cover more than 900 employees at the two breweries and provide wage and pension increases over the three-year contracts, the union said today (2 June).

"Our members overwhelmingly ratified these contracts at MillerCoors because they provide stability for their families," said Jack Cipriani, director of the Teamsters brewery and soft drink workers conference and international vice president. "For the next three years, our members at MillerCoors know that their wages and pension benefits will increase, which is saying a lot in today's economy."

The contracts were approved Saturday.

As part of the deal, there will be no health care cost increase for the first year and only minor increases for the second and third years.

MillerCoors, a joint venture formed in the US last year by SABMiller and Molson Coors, reported a 50% rise in net profits for the first quarter of 2009.

The figure rose by 50% to reach US$206m for the first three months of this year. Net sales were up 3.8% for the quarter, to $1.7bn, as higher pricing helped to offset a dip in volume sales, from 16bn to 15.7bn barrels.