April 24, 2009 / 10:36 PM / 9 years ago

CAW, Chrysler Canada reach key contract deal: TV report

TORONTO (Reuters) - The Canadian Auto Workers union struck a concession deal with Chrysler Canada on Friday, CTV television reported.

Chrysler is seeking billions of dollars in emergency loans in Canada and the United States and must prove its viability in order to qualify for the funding.

One of the conditions set by governments in both countries is that Chrysler must obtain significant concessions from its unions.

The union has scheduled a news conference for 8 p.m. Friday evening in Toronto.

($1=$1.22 Canadian)

Reporting Rob Wilson, Editing Allan Dowd

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