Teamsters union reaches new four-year contract with BorgWarner By Reuters

(Reuters) – The Teamsters Union, which represents more than 700 workers at BorgWarner (NYSE: ), said on Tuesday it had reached an agreement on a new four-year contract with the auto parts maker.

The new contract reflects a 21 percent salary increase over the life of the agreement, along with better medical and vacation benefits and a $5,500 ratification bonus.

“We’re not asking for the month, we’re just asking for a piece of the pie. This new contract is exactly what we’ve been fighting for,” said Lane Yon, a member of Teamsters Local 317 and chairman of the strike committee.

Union workers at BorgWarner have been on strike for the past two weeks, which was authorized by 98 percent of its members in a vote.