Mercury Marine on Saturday announced that it and the negotiation committee of the labor union, IAMAW Lodge 1947, will enter a new collective bargaining agreement. The contract will remain in place through Sept. 30, 2028, and will be signed by both parties.

Complete details of the agreement will not be made public.

“We are pleased to announce that together with our union leadership, we have a ratified contract that has been passed by our union employees,” John Buelow, Mercury Marine president, said in a statement. “The new five-year contract is in the best interest of our workforce and the continued growth of Mercury Marine.”

“The IAMAW is pleased to have reached an agreement on a new contract with Mercury Marine that continues to provide our members with industry-leading pay and benefits, building upon our relationship with the Company,” said Jeremy Terlisner, IAM District 10 Business representative, in the statement. “We had an opportunity to recognize our members for their continued hard work and are very pleased with the outcome.”