Drummond Ltd Reaches a New Labor Agreement

Jun 15, 2010, 13:22 ET from Drummond Ltd

BIRMINGHAM, Ala., June 15 /PRNewswire/ -- Drummond Ltd has reached a final agreement with all Company unions on the bills of petition submitted by the union organizations without any work stoppage.  

The main benefits of the new collective agreement are the following:

  • Term of the collective agreement:     Three (3) years

  • Signing bonus:                                $7,000,000 pesos (USD 3,629)

  • Salary Increase:                              First year: 2009 inflation + 3.0%, or 5.0% total

Drummond Ltd congratulates the negotiating teams from both the unions and the company for their commitment and effort.   Also, the company reiterates its interest in maintaining a policy of dialogue with the union organizations within Drummond Ltd, and our commitment to always respect the law.

SOURCE Drummond Ltd