LKQ and Verdi Reach New Two-Year Collective Bargaining Agreement in Germany
21 Juin 2024 - 3:10PM
LKQ Corporation (Nasdaq: LKQ) today announced that a new collective
bargaining agreement has been agreed with the trade union
Verdi. The agreement covers approximately 5,000 employees of LKQ
Europe in Germany, including 730 colleagues at LKQ’s
Sulzbach-Rosenberg distribution center. The collective bargaining
agreement has a two-year duration, which expires on April 30, 2026.
The tariff agreement includes a mandatory peace
obligation, which immediately ends all strike activity throughout
the term of the agreement.
“I am delighted to
report that an agreement for LKQ Europe workers in
Germany has been reached in the tariff dispute. We
are pleased that our employees may now benefit
from a collectively agreed increase as well as inflation
compensation and enhanced salaries for our trainees,” said Andy
Hamilton, President and Executive Managing Director of LKQ Europe.
“The agreement provides certainty for both our employees and
business over its two-year duration
and provides meaningful compensation increases in
recognition of the hard work and value that our employees provide
to both LKQ and our customers. As we look ahead, our
entire LKQ team remains focused on delivering
for our customers, competing in the marketplace, and driving
continued growth in Europe.”
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that are not historical are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and
are made pursuant to the “safe harbor” provisions of such Act.
Forward-looking statements include, but are not
limited to, statements regarding our outlook, guidance,
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assumptions and other factors including those identified
below. All forward-looking statements are based on
information available to us at the time the statements are made. We
undertake no obligation to update any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
You should not place undue reliance on our
forward-looking statements. Actual events or results may differ
materially from those expressed or implied in the forward-looking
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that could cause actual events or results to differ from the events
or results predicted or implied by our forward-looking statements
include, among others, changes in our cash position or cash
requirements for other purposes, fluctuations in the price of our
common stock, general market conditions, and stockholder response
to the repurchase program; and other factors discussed in our
filings with the SEC, including those disclosed under the
captions “Risk Factors” and “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” in our Annual
Report on Form 10-K for the year ended December 31,
2023 and in our subsequent Quarterly Reports on Form 10-Q.
These reports are available on our investor relations website at
lkqcorp.com and on the SEC website at sec.gov.
About LKQ Corporation
LKQ Corporation (www.lkqcorp.com) is a leading
provider of alternative and specialty parts to repair and
accessorize automobiles and other vehicles. LKQ has operations in
North America, Europe and Taiwan. LKQ offers its customers a broad
range of OEM recycled and aftermarket parts, replacement systems,
components, equipment, and services to repair and accessorize
automobiles, trucks, and recreational and performance vehicles.
Contact:Joseph P. BoutrossVice President,
Investor RelationsLKQ Corporation(312)
621-2793jpboutross@lkqcorp.com
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