Today's Labour News

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evrazBusiness Report writes that business rescue practitioners for Evraz Highveld Steel and Vanadium, which went bust amid an influx of cheap imports, said on Tuesday that 13% of monies owed to the steel producer’s 2,000 retrenched employees had been paid.  

Evraz filed for business rescue in 2015.  “Employees have been paid approximately 13 percent (R3.5 million) of the total amount owed to them.  The last payment to employees was made on April 12, 2017,” the practitioners indicated.  Trade union Solidarity’s Cornelius van Leeuwen confirmed that the payment of the retrenchment packages was in line with the practitioners’ original plans in terms of which 10% of the retrenchment packages would be paid by November 2016 and the balance as money trickled in.  The practitioners also said that the Evraz structural mill was up and running after the company’s subsidiary Highveld Structural Mill signed a manufacturing agreement with ArcelorMittal SA last December.  Van Leeuwen commented that the deal was a positive development for the local Witbank community and SA as a whole, following the retrenchments.

  • Read this report by Dineo Faku in full at Business Report
  • See too, Sakeredding by Evraz duur voort, at Netwerk24 (limit on access)


Get other news reports at the SA Labour News home page