Strike ends at Venezuelan steel plant Sidor

Strike ends at Venezuelan steel plant Sidor

Recent market news reports that strike that started on April 22, 2004 at Venezuelan steel plant Sidor ended yesterday. As previously reported by SteelOrbis, the workers at Sidor went on a strike as no compromise on back pay and company stocks is reached. The strike, which caused Sidor to stop its production and shipments ended yesterday after an agreement on bonus payments, improved work conditions and company stocks was reached. The shares of the workers in Sidor were increased from 30% to 40%. Upon the agreement, workers turned back to the plant and production and shipments of Sidor have restarted.