RAY Raytech Corp

PACE Renews Strategic Alliance With Raybestos Products Company to Improve Quality, Productivity, Employee Participation, Profitability NASHVILLE, Tenn., Dec. 10 /PRNewswire/ -- The Paper, Allied-Industrial, Chemical & Energy Workers International Union (PACE) and Raybestos Products Company in Crawfordsville, Ind., recently renewed their commitment to improve quality, productivity, employee participation and profitability by signing a Strategic Alliance agreement on Dec. 8. The Strategic Alliance is based on the mutual respect of both organizations, a commitment to create a positive approach to labor-management relations and improved communication from the shop floor to the CEO. Input is solicited from PACE-represented employees on matters that affect both hourly and salaried personnel. "I am very pleased to see the new leadership of Raybestos committed to going forward with this Strategic Alliance," said PACE President Boyd Young. "There has been a lot of progress with this agreement. New work is coming into the Crawfordsville plant, and the company has announced it will relocate its corporate office from Shelton, Conn., to Crawfordsville, Ind." Raybestos reports that the Strategic Alliance agreement to date has resulted in positive improvements in labor-management relations and the company's operations. "This alliance proves that American workers can compete on a global basis when unions and management work together on the common interests of all stakeholders," said PACE Region Nine Vice President Bill Gibbons. "I'm very pleased that Raybestos has given us the opportunity of showing the value of the union in helping the company succeed." "It's refreshing to work with a company who recognizes the positive value of organized labor and not the negative cost of organized labor," said PACE Region Nine Representative Steve Brady. "This is a company that truly embraces our ability to deliver a collective 'yes' and that does not disrespect or despise our ability to deliver a collective "no.'" An auto parts supplier, Raybestos Products Company is owned by Raytech Corporation (NYSE:RAY) manufactures brake pads, brake shoes, rotors, drums, loaded calipers, wheel cylinders, master cylinders and hoses and cables. Raybestos website: http://www.raybestos.com/ Headquartered in Nashville, Tenn., PACE represents 275,000 members in the paper, oil, chemical, auto supplies, pharmaceutical, nuclear, grain milling and industrial minerals industries. PACE website: http://www.paceunion.org/ DATASOURCE: PACE CONTACT: Steve Brady, Representative of PACE Region Nine Intl., cell, +1-812-890-4808 Web site: http://www.paceunion.org/ http://www.raybestos.com/

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