Settlement reached at Caribbean Ispat

TRINIDAD AND TOBAGO: After a long series of bilateral meetings to negotiate a new collective agreement for weekly and monthly paid employees at Caribbean Ispat Limited, the Steelworkers' Union of Trinidad and Tobago (SWUTT) reached a deal with company management in July. The union says that the new contract, which will cover the period from November 1, 2001, to October 31, 2004, represents an historic achievement for the union as the parties settled all items without the intervention of a third party or strike action. Principal items in the agreement include (figures are in Trinidad and Tobago dollars, TT$ 1 = US$ 0.168067):

• wages - consolidation of present cost-of-living allowances plus a general wage increase of 10% (3% in the first year, 3% in second year, 4% in third year);
• cost-of-living allowance - $100 consolidated to basic wages;
• heat bonus - $0.95 per hour.

Other improvements deal with enhanced payment for shift bonuses, meal allowance, travelling allowance, and pension benefits. SWUTT, an affiliate of the IMF at international level, is the recognised majority union for both weekly and monthly paid workers at Caribbean Ispat, which is a subsidiary of the Ispat International Group, the world's 8th largest steelmaker.