WASHINGTON, DC -- Senator Charles Schumer (D-NY) says the owners of the New Process Gear plant in DeWitt have agreed to a meeting in Washington to discuss an aid package that could keep the plant open. Magna International had announced it would continue with plans to close the plant and lay off its 1,400 workers, after members of the United Auto Workers union rejected for a second time a package of concessions the company said were needed to stem loses at the plant.
According to Schumer's office the new developments came after the Treasury Department agreed to make $5 billion in government funds available as a line of credit for the auto parts industry. Schumer says the company agreed to have follow-up conversations with the government about its needs.
Schumer cautioned that its not time to celebrate, but at least there are talks.
