Lockheed Martin, Union Reach Deal at Forth Worth F-35 Plant

Union members at a F-35 fighter jet manufacturing plant in Texas voted on Sunday to ratify a new contract with Lockheed Martin Corp. that included wage hikes and improvements to retirement benefits.

Approximately 5,000 members of the International Association of Machinists and Aerospace Workers District 776 in Forth Worth, Texas approved the deal that their negotiating committee had unanimously recommended, according to a statement. Terms included a 16% effective general wage increase over the four years of the contract, cost-of-living adjustments, a $4,000 per person ratification bonus and maintained the union’s healthcare plan.

“We have once again proven why ...