DETROIT, Nov. 3 (UPI) -- Ford Motor Co. (NYSE:F) and the United Auto Workers agreed on a tentative contract Saturday after nearly 40 hours of marathon bargaining.

"Our team is proud of each and every negotiator because they have encouraged Ford to invest in product and people while addressing the economic needs of our active and retired members," UAW President Ron Gettelfinger said in a statement.

While details of the contract were not released, Gettelfinger pronounced it a success -- forged without a short strike, unlike the recent agreements reached between the UAW and General Motors Corp. (NYSE:GM) and Chrysler LLC. Those two contracts have been ratified.

"Our goals for this contract were to win new product and investment, to enhance job security and protect seniority -- and we made progress in all these areas," said UAW Vice President Bob King, who heads the union's national Ford department.

No time frame for ratification was given for the Ford contract.