VW Mexico workers reject 4.2 pct pay rise but union to continue negotiations
Volkswagen AG workers at the Puebla plant rejected overnight the 4.2 pct pay increase proposed by management, but it was agreed that negotiations should continue, union officials said.
The plant’s union secretary general Jose Luis Rodriguez said that workers have asked the union to continue negotiating a better deal, adding that talks will be held today.
VW’s 12,000 unionised workers had threatened to go on strike tomorrow at 11.00 am.
Rodriguez said that only 5 pct of the workers convened at general meetings yesterday accepted the 4.2 pct pay rise offered by VW, while 63.3 pct asked the union to keep negotiating to get a better deal.
Some 30.8 pct voted in favour of striking.
VW’s Puebla workers initially sought a 12.5 pct pay hike.
The Puebla plant makes the Bora, New Beetle and Jetta car models.
More: forbes.com
VW Mexico workers may strike Thursday for 12.5 pct pay hike
Volkswagen AG workers at its Puebla plant in Mexico may go on strike on Thursday to support demands for a 12.5 pct pay hike, Financial Times Deutschland reported, citing a trade union spokesman.
The spokesman said while VW has not made an offer yet it has rejected a 'spectacular salary adjustment'.
Workers at the plant last staged a three-day strike one year ago and pushed through a 4.5 pct wake increase.
The Puebla plant makes the New Beetle and Jetta and employs 12,000 workers.
More: forbes.com
MEXICO CITY (Reuters) - Volkswagen's Mexican unit reached an agreement with union leaders on Wednesday to increase workers' pay and avoid a strike.
More than 11,000 union workers at Volkswagen's plant near the city of Puebla accepted a 4.2 percent pay raise, preventing a walkout scheduled for Thursday, union leader Jose Luis Rodriguez told reporters.
The Puebla plant, about two hours' drive southeast of the capital, is the only Volkswagen operation in North America and is the sole producer of the popular New Beetle car.
The new salary deal includes minor improvements in benefits, the company and union said.
Workers had originally demanded a
Mexico Reaches Accord With Health-Care Workers, Averting Strike
Mexico has reached an agreement with leaders of a union representing its Social Security Institute, avoiding a strike that threatened to suspend health care for 42.5 million Mexicans this month, President Vicente Fox said.
Union leaders late last night agreed to accept a 4 percent pay increase and a government promise to hire 65,000 additional workers, said Leopoldo Perez Priego, assistant to union leader Roberto Vega Galina in a telephone interview from Mexico City. The union also agreed to raise worker pension contributions to 4 percent of their salaries, an amount that will
BASE METALS UPDATE: Grupo Mexico: Cananea Talks Going Well
Workers at La Cananea, a copper mine located in northern Sonora state, said Tuesday that talks were advancing well with parent company Grupo Mexico SA (GMEXICO.MX) over annual contract revisions.
Union Committee Plans To Discuss Asarco Offer Wednesday
The union bargaining committee representing workers striking against Asarco Inc. (ASX.XX) is planning to meet Wednesday to discuss a one-year contract offer that has been made by the company, as well as other issues, a union official reported Tuesday morning.
Mexico Steel Talks End Without Deal, No Strikes Seen Tue
Mexico's Cemex sees Q4 EBITDA up 63 pct
Mexico's Cemex, the world's third biggest cement maker, expects a 63 percent rise in fourth-quarter earnings before interest, tax, depreciation and amortization to $950 million after a major acquisition boosted sales, the company said on Friday.
Cemex (CX.N: Quote, Profile, Research) (CEMEXCPO.MX: Quote, Profile, Research) said revenues would be above $3.9 billion in the October-December period, up 95 percent following the $5.8 billion purchase of Britain's RMC Group, the world's largest ready-mix concrete producer.
The acquisition of RMC, the biggest ever by a Mexican company, doubled Cemex's revenue base and handed it new markets in
Mexico OKs Request to Close Copper Mine
Mexican labor authorities approved Grupo Mexico SAs request to close the La Caridad copper mine and cancel the collective contract after a three-month strike, a company official said Friday.
Juan Rebolledo, vice president for international affairs for Grupo Mexico, said the labor arbitration board approved the closure of the mine in northwestern Sonora state, and that the company can now cancel the contract which involves at least 1,200 unionized workers.
About 700 nonunion staff and 800 contract workers also will be affected, although the company can later reopen the mine with other workers once the
Miners file murder charges against Grupo Mexico
A Mexican union has filed murder charges against mining company Grupo Mexico and the government after 65 miners were killed last month in an explosion at a coal mine.
Mexico's miners' and metalworkers' union said late on Thursday it formally accused Grupo Mexico, Labor Minister Francisco Salazar and two mine inspectors of homicide.
The workers died after a methane explosion at the Pasta de Conchos mine in the northern state of Coahuila on Feb. 19.
Union leaders say Grupo Mexico , the world's No. 3 copper miner, ignored safety concerns but the company has denied negligence.
Co-workers gave
Mexico's Penoles Workers Postpone Strike Date to Vote Offer
Miners at Industrias Penoles SA, Mexico's largest silver miner, deferred a strike date scheduled for yesterday at a silver-and-lead mine to vote on a salary offer, the union said in a statement.
The strike at the mine in Naica, Chihuahua, was delayed until Jan. 27 at 2 p.m. New York time while the vote is organized, local union leader Sergio Chavira said in the statement. The terms of the Penoles offered weren't disclosed.
More than 350 union miners work at Naica, the largest lead mine in Mexico. The mine in 2005 produced
Globalia teams up with Mexico's Grupo Angeles for local airlines bid
Spain's Globalia Corporacion Empresarial has teamed up with Mexico's Grupo Angeles to place a bid for two local airlines, Saturday's La Gaceta de los Negocios reported, citing unnamed sources close to negotiations.
Grupo Angeles, a real estate company, will hold 75 pct of the consortium while Globalia will hold the remaining 25 pct, the newspaper said.
The two airlines on the block are state-owned Mexicana de Aviacion and Aeromexico.
Source: forbes.com
Mexico stocks rise 0.72 pct, peso off slightly
Mexican stocks ended 0.72 percent higher on Tuesday on the back of gains from blue-chip America Movil as investors anticipated solid quarterly results from the cellular phone company.
The IPC stock index < .MXX> rose 143.30 points to close at 20,082 points.
America Movil (AMXL.MX: Quote, Profile, Research) gained 0.73 percent to 19.28 pesos. It is expected to post second-quarter results on Wednesday after the stock market closes.
America Movils quarterly net profit is seen down nearly 13 hurt by foreign exchange losses but its subscriber base, extending from the United States to
