EXECUTION OF THE XVI COLLECTIVE AGREEMENT FOR THE ACERINOX, S.A. FACTORY AT CAMPO DE GIBRALTAR (SPAIN)

The XVI Collective Agreement for the ACERINOX, S.A. Factory at Campo de Gibraltar (Spain) has been executed today by the parties thereof. The term of the Agreement is four years. It includes a salary increase according to the inflation rate, except for the first and last years in which an additional 0.5% will be added to the inflation rate. It also includes a working hours reduction of 32 hours in the four year period. In addition, the productivity bonus of the different Divisions are unified under one single bonus, and a bonus per worked day is established embodying already existing emoluments.
The XVI Collective Agreement for the ACERINOX, S.A. Factory at Campo de Gibraltar (Spain) has been executed today by the parties thereof. The term of the Agreement is four years. It includes a salary increase according to the inflation rate, except for the first and last years in which an additional 0.5% will be added to the inflation rate. It also includes a working hours reduction of 32 hours in the four year period. In addition, the productivity bonus of the different Divisions are unified under one single bonus, and a bonus per worked day is established embodying already existing emoluments.