July 15, 2011 / 9:01 PM / 7 years ago

UPDATE 1-Finning says strike at unit to continue

July 15 (Reuters) - Finning International Inc , the largest dealer of Caterpillar equipment, said the strike at its British Columbia unit would continue after the worker’s union rejected its wage agreement proposal.

The company said its contingency plan, under which equipment and parts sales were unaffected, will continue to be under effect.

Finning proposed a four-year deal, which ensured a 4 percent hike in wages in the first year, 3 and 4 percent hikes thereafter.

The International Association of Machinists and Aerospace Workers (IAMAW) union has been on strike since June 22, after the two-year collective agreement expired in April.

The IAMAW represents about 700 hourly-paid Finning parts and service employees in British Columbia and Yukon.

Vancouver, British Columbia-based Finning’s shares closed at C$30.18 on Friday on the Toronto Stock Exchange. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Maju Samuel)

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