SIDOR and Sutiss agreement ends "go-slow"

Bnamericas Published: Monday, November 10, 2003
Venezuelan steelmaker Sidor and the steel workers' union Sutiss have agreed to maintain collective agreements as a mechanism to guarantee industrial relations harmony, Sidor said in a statement. The company said that the agreement involves using legal arbitration to tease out differences in respect to Clause 3 of the Collective Agreement, which relates to performance evaluation. The agreement ended a month-long industrial action by Sutiss. The accord also requires that prebonuses for 2004 are included in the current collective agreement and includes an increase of US$1/d in extra contractual pay. In addition, the two sides negotiated the creation of a high-level commission to evaluate health and safety conditions at the steelmaker. The agreement was reached after the labor inspectorate said it had no authority to rule on the implementation of the Collective Agreement, as Sidor had been pressing for. The ruling of the inspectorate, part of the Labor Ministry, came after a month of stoppages and "go-slows" at Sidor's plant, resulting in considerable losses. Puerto Ordaz-based Sidor is 60% owned by the Amazonia consortium, made up of Mexico's Hylsamex of the Alfa group and Tamsa of the Techint group; Argentina's Siderar, also of the Techint group; Usiminas of Brazil and Venezuela's Sivensa. The group bought what was originally a 70% stake in the company from the state for US$2.3bn in the late 1990s. The Venezuelan state has the remaining 40%.

To continue reading, subscribe to BNamericas to get all the information in this article and access to related news items and reports.

Subscribe to BNamericas and gain access to thousands of project profiles, key contacts and news.

Other projects in: Mining & Metals

Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Yergo
  • Current stage: Blurred
  • Updated: 1 day ago
  • Project: Media Luna
  • Current stage: Blurred
  • Updated: 4 days ago
  • Project: Terra Cotta
  • Current stage: Blurred
  • Updated: 4 days ago
  • Project: Don Eduardo
  • Current stage: Blurred
  • Updated: 5 days ago
  • Project: Vizcachitas
  • Current stage: Blurred
  • Updated: 5 days ago

Other companies in: Mining & Metals (Venezuela)

Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: CAF (Banco de Desarrollo de América Latina)
  • Banco de Desarrollo de América Latina (CAF) is a multilateral financial institution with a mission to promote sustainable development among its shareholder countries and regiona...
  • Company: CVG Aluminio del Caroni S.A.  (CVG Alcasa)
  • Venezuela's state-controlled aluminum reducer CVG Alcasa is focused on the production, processing and sale of aluminum products, and supply of raw materials for the country's pr...
  • Company: Corporación Venezolana de Guayana  (CVG)
  • Venezuela's state heavy industry holding CVG controls the vertically integrated aluminum complex formed by Carbonorca and Bauxilum and aluminum reducers Alcasa and Venalum. It i...