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SEATTLE, Dec. 9 (UPI) -- Boeing workers in Washington, Oregon and Kansas belonging to the International Association of Machinists & Aerospace Workers have approved a contract extension.
The agreement is for four years, ending in September 2016.
"This contract will help secure a better future for our employees, our customers, our communities and our company," said Jim Albaugh, president and chief executive officer of Boeing Commercial Airplanes.
"It reflects an effort on the part of the company and the union to find a better way to work together and achieve common ground.
"It's a balanced agreement that makes us more competitive and ensures that the 737 -- the best single-aisle airplane in the world -- continues to be built by the people who know how to do it best."
The 737 MAX, which enters service in 2017, is being produced in Renton, Wash., and the vote ensures that will continue.
Under the contract, workers will receive an annual wage and pension increase in each of the four years of the agreement as well as a one-time ratification bonus of $5,000 next week. There will also be an incentive pay plan for hourly workers that will take into account safety, quality and productivity.
The company also agreed to improved healthcare coverage.
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