OSHAWA, Ont. (CP) -- A settlement between the Canadian Auto Workers and General Motors over the closure of the company's truck plant in Oshawa, Ont., calls for more vehicles to be built at the new flexible car plant the automaker is building.
The Globe and Mail cites sources familiar with the deal who say the flex plant in Oshawa will produce two more vehicles in addition to the Camaro muscle cars and another car agreed to in May.
Another key element of the deal involves giving senior GM employees a pay package that will help them qualify for a retirement incentive which is available to workers with 30 years of service, said the newspaper.
The package could involve paying some workers 65 percent of their salary for as long as four years depending on the number of years of employment with GM.
A spokeswoman for the union says the CAW will brief workers of the deal in a series of meetings set for Monday.
The CAW announced Sunday the union and General Motors reached the settlement in the bitter dispute over the pending closure of the company's truck plant in Oshawa, Ont.
The union filed a grievance against the company in early June after the auto giant announced it would shutter the award-winning facility in 2009.
The news came only two weeks after GM and the CAW signed a three-year contract, in which the union agreed to major concessions in exchange for product commitments at the Oshawa complex.
Last week, a senior CAW official said he expected a "unique" resolution with the company.
The announcement of the plant's closure -- and the loss of 2,600 jobs -- triggered angry protests from workers, who set up a temporary blockade of GM's Canadian headquarters in Oshawa.
The company blames the plant's closure on soaring gas prices, which have led to a collapse of pickup truck sales in North America.