Teck, union reach deal

Teck Cominco and the unions at the company’s Trail operations in southwestern British Columbia have ratified the terms a collective agreement.

The contract runs through 2005 and is retroactive to June 1, 2001. Workers will receive a 6% hike in wages over the term of the agreement, as well as increased pensions and more opportunities for early retirement.

Layoff notices distributed by the company in July will also be rescinded, as the company will reduce manpower through the early-retirement program.

Employees who meet the requirements will be eligible for full pension. As an incentive, employees who participate within three months of the date they become eligible will receive $15,000.

The Trail smelter shut down briefly during the negotiations.