| FOR IMMEDIATE RELEASE May 29, 2001 |
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Workers Rally In Demand of Secure Pension at Drew Shoe Corporation Press conference to be held on Tuesday, May 29, 2001 at 12:15 p.m. at the Drew Shoe Corporation 301 Forest Rose Avenue Lancaster, Ohio Drew Shoe workers are fed up. The local shoe manufacturer has announced plans to close the Lancaster plant on May 31st, and move its shoe manufacturing operations to China. Workers, represented by the United Food and Commercial Workers (UFCW) Local 214F, discovered that the workers' pension plan does not have enough money to meet its obligations to 270 current and retired workers. At a press conference next Tuesday, workers will demand pension security by refusing to waive their rights to a secure retirement fund. Drew Shoe Corporation is owned by a management investment company, the Wexford Corporation, that is worth $1.4 billion. The UFCW Local 214F has been negotiating the terms of closing agreement with Drew, but the company has refused to honor its pension obligations. The UFCW is refusing to waive its right to hold the company accountable for the workers retirement fund. The majority of the 70 workers at Drew Shoe are long-term employees, and more than 200 retired workers would be affected by the company's actions. United Food and Commercial Workers Union: A Voice for Working America |
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