Salary tariffs in EVRAZ VITKOVICE STEEL will increase by 2.7% in 2011

27.1.2011

Salary tariffs in EVRAZ VITKOVICE STEEL will increase by 2.7% in 2011

Ostrava January 27, 2011 - The management of EVRAZ VITKOVICE STEEL (EVS) and labour unions have agreed to sign an amendment to their collective agreement for 2011. The amendment increases the salary tariffs for 2011 by 2.7 % in comparison with the previous year.

"I am pleased that we have reached a fair and mutually acceptable agreement," says Zbynek Kvapik, MBA, CEO and Chairman of the Board of EVS. "We are glad that our dialogue with the management of EVRAZ VITKOVICE STEEL was constructive" adds Zdenek Kolos, deputy head of OS KOVO. "Both negotiating parties were focused on achieving the most suitable solution in view of the slow economic recovery. The final version of the collective agreement represents a good, realistic result in the current circumstances."

The amendment to the collective agreement comes into effect on 1st January 2011.

 

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For more information please contact: 

Crest Communications
Lenka Mickova, Andrea Pitronova
Tel.: + 420 222 927 111
lenka.mickova@crestcom.cz
andrea.pitronova@crestcom.cz

Crest Communications Ostrava
Jaromir Krisica
Tel.: +420 603 543 572
krisica@crestcom.cz

EVRAZ VITKOVICE STEEL concentrates on the production of steel and steel products - heavy plates, heavy and medium sections, and flame-cut shapes from heavy plates. The company aims to continue increasing the sales of its products with high added value, such as deliveries of plates for pipelines. Thanks to the important support of the Evraz Group and its strong position on the Russian steel market the company has also successfully entered the Russian market of the pipeline industry. In the sphere of heavy plates EVRAZ VITKOVICE STEEL is the main European manufacturer and the only manufacturer in the Czech Republic. Within the section production the most important product is sheet piles which represent a 75 % share of the mill's production. The company is the sole manufacturer of this product on the domestic market and holds a 90% market share.

Evraz Group S.A. is a large vertically-integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, Europe, the USA, Canada and South Africa. The Company is ranked the 14th largest steel producer in the world based on crude steel production of 15.3 million tonnes in 2009. EVRAZ is largely self-sufficient in respect of its iron ore and coking coal requirements with the majority of its internal consumption covered by its mining operations. Evraz's consolidated revenues for the nine months ended 30 September 2010 were US$9,729 million and consolidated adjusted EBITDA amounted to US$1,766 million.

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