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Tensions high in Volvo Trucks plant at end of first week back after strike


Tensions high in Volvo Trucks plant at end of first week back after strike
Tensions remain high inside the Volvo Trucks plant in Dublin, Virginia, as workers complete their first week back after being on strike for five weeks. For most workers, today will be their last day before a regularly scheduled two-week summer shutdown for maintenance and equipment upgrades at the New River Valley (NRV) plant.
Striking Volvo Workers. (Photo: UAW L. 2069)
Nearly 3,000 workers conducted a courageous fight against both Volvo and the United Auto Workers (UAW). The UAW colluded with the Swedish-based multinational to impose a six-year contract, which will continue to boost profits at the expense of workers’ wages, benefits and working conditions. Since mid-April, the workers struck twice and rejected three UAW-backed agreements before the union forced a revote on the company’s “last, best and final offer” on July 14. The UAW claimed the deal passed by 17 votes out of the 2,36 ....

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Thomas Built CEO gets Daimler Trucks post


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By Mike Brezonick15 April 2021
Caley Edgerly
Daimler Trucks North America’s (DTNA) has announced the appointment of current Thomas Built Buses President and CEO, Caley Edgerly to the role of general manager, operations planning and quality at DTNA, effective immediately. He replaces Sungsoo Lee, who is retiring after 34 years with Daimler and its affiliated entities. ....

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Proterra to Take Heavy-Duty Electric Vehicle Business Public via SPAC Transaction


Proterra, builder of electric buses, heavy-duty vehicle drivetrains, batteries and charging systems, plans to go public on the Nasdaq exchange via a merger with a special-purpose acquisition company (SPAC), the latest in a string of EV companies seeking access to public market financing to meet growing demand. 
Tuesday’s announcement sets the Burlingame, Calif.-based company on a course to merge with ArcLight Clean Transition Corp., with $415 million in private investment in public equity commitments led by Daimler Trucks, as well as Franklin Templeton, Chamath Palihapitiya, Fidelity Management & Research, and funds and accounts managed by private equity firm BlackRock. 
The transaction is expected to raise $825 million in cash and set an enterprise value of $1.6 billion for Proterra, which will trade under the ticker symbol PTRA. The company has raised about $682 million from investors including Kleiner Perkins, Daimler, Generation Investment Management, Tao Ca ....

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