Strike Ends at Chrysler Plant but Not GM

United Auto Workers union members who went on strike Friday reached a tentative agreement with Chrysler Corp. and planned to head back to work, a union official said.

“The strike is over,” said Jesse Hamm, a steward with the UAW local at an important plant that manufactures transmissions for the No. 3 auto maker. A prolonged walkout could have crippled Chrysler production nationwide.

Details on the tentative agreement were not immediately available.

A second strike, at a General Motors Corp. plant in Michigan, remained unresolved late Friday.

Alan Miller, a spokesman for Chrysler, confirmed that a tentative agreement had been reached. He said the plant would reopen Monday morning.

Both disputes involved efforts by the United Auto Workers to retain or add jobs in an industry that has shed tens of thousands of American laborers in recent years.

Negotiations between Chrysler and the union continued after the 5,700 members of UAW Local 685 left their jobs. The strike could have cost Chrysler an estimated $33 million a day.

Nearly 90% of Chrysler’s cars and trucks use transmissions made at the Kokomo plant. It supplies assembly operations in Michigan, Ohio, Missouri, Illinois, Delaware, Ontario, Mexico and Austria.

News of the strikes sent auto stocks lower on Friday in heavy trading on the New York Stock Exchange. Chrysler lost 87.5 cents a share to close at $41.75 while GM shares fell 87.5 cents to finish at $44.