By Bob Tita

Caterpillar Inc. workers represented by the United Auto Workers union said they have reached a tentative agreement on a new contract with the construction equipment manufacturer as the union's six-year contract with the union expired early Wednesday.

The union said it wouldn't release details of the deal until members are briefed on the agreement and vote on it and didn't reveal a date for the ratification vote.

The union represents about 7,000 hourly employees at assembly plants and warehouses in Illinois and Pennsylvania.

Caterpillar shares were up 1.3% in pre-market trading, at $242.59.

Write to Bob Tita at robert.tita@wsj.com

(END) Dow Jones Newswires

March 01, 2023 09:55 ET (14:55 GMT)

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