Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, May 25, 1994                   TAG: 9405250150
SECTION: BUSINESS                    PAGE: C-8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

The International Union of Electrical Workers, which represents salaried workers at General Electric Co.'s Drive Systems division in Salem, on Tuesday began negotiating a new contract that calls for increased wages, better benefits and larger pensions for early retirees, the union announced.

The IUE contract with GE, which employs 30,000 union members at 50 sites in the United States, expires June 26. The union represents more than 900 workers at GE Drive Systems in Salem.

The IUE is negotiating its new contract as part of a coordinated bargaining committee, which is composed of 15 unions representing workers at GE, Westinghouse Electric Corp. and Martin Marietta Corp. Because several unions typically represent workers at the same plant, the unions set up the committee so they can establish common demands from the employers.

The 15 unions in the group represent more than 51,000 workers at GE plants.

- Staff report

Revco waives merger condition

Revco D.S. Inc., Twinsburg, Ohio, operator of drug stores, said Tuesday it has waived a condition of its merger agreement with Hook-SupeRx, a Cincinnati drug store chain: that it raise up to $175 million through the issuance of senior subordinated debentures. The transaction remains subject to other customary conditions. Revco expects to close the merger in July.

- Staff report

Westvaco moving 110 jobs to Va.

Westvaco Corp., New-York-based maker of paper, packaging and chemicals with a bleached board division in Covington, today is to announce relocation of several corporate departments to a Chesterfield County office park near Richmond. The company - which has 2,800 Virginia employees including about 1,900 at its Covington paper mill, liquid packaging plant and research center - this summer will move 110 jobs to the new facility to house human resources, credit, comptroller and data processing functions.

Announcement of the move is scheduled for 11:30 a.m. in downtown Richmond with Gov. George Allen attending. State officials said the company is negotiating for state incentive funds to pay for the move.

- Staff report