American manufacturer Ford announced yesterday it has completed the transfer of the UAW retiree health care liabilities to the UAW Retiree Medical Benefits Trust (VEBA), in a move considered by the company as the culmination of years of work.
The transfer of these health care liabilities to the VEBA Trust is the culmination of several years of work and will significantly improve our competitiveness in the U.S., Lewis Booth, Ford’s chief financial officer said.
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