Prime Minister Yulia Tymoshenko visited the largest steel plant in Ukraine - OJSC ArcelorMittal-Krivoy Rog “(until 2006 Krivorozhstal). During the meeting with management, unions and employees, she demanded from the owner of the plant - the world”s largest steel company ArcelorMittal to raise the salary by 25% from 1 January this year. “I put a very stringent requirement, and this requirement will be monitored by me until its realization”, - said Ms. Tymoshenko. According to her, if the demand is not met, then the Cabinet would deprive ArcelorMittal-Krivoy Rog “benefits, which are enterprises of mining and metallurgical complex (MMC).
recall, the government has introduced incentives for enterprises of MMC in November 2008 when, in response to falling world demand for metal in Ukraine was halted half of blast furnaces, 2 /3 steel units, part of the ore-bearing plants and all ferroalloy plants. To support them, the Cabinet gave them preferential prices for gas, electricity and rail freight. According to ArcelorMittal, Krivoy Rog, thanks to this venture in 2009 alone saved about 182 million UAH.
In 2009 ArcelorMittal-Krivoy Rog “cut steel output by 18,9%, to 5.05 million tons of pig iron - by 21.6%, to 4.42 million tons, of rolled — 20%, to 4.49 million tons in January-September revenues totaled UAH 20.12 billion, net profit - 4.47 billion UAH.
In
ArcelorMittal Krivoy Rog, “said yesterday that the company”s management has already started negotiations with the unions on changes in collective agreements with regard to increasing salaries. At the same time, the company noted that the average salary of ArcelorMittal Krivoy Rog, “So is the highest in the industry - 3,5 thousand grn for 3,1 thousand UAH in the industry average. Despite this, the unions require the company to raise wages in 2010 to 23%.
According to the analyst IR Foyil Securities Ukraine Ismail Safaraliyeva, despite the fact that the Cabinet provided benefits are important for ArcelorMittal-Krivoy Rog, raising salaries by 25% is unlikely to happen. “Statement of Yulia Tymoshenko - a populist move designed to win the votes of metallurgists in the second round of presidential elections - agrees Troika Dialog Ukraine” Ivan Kharchuk. According to analysts of IR Dragon Capital Sergei Gaida imposed by government incentives for companies of MMC are no more than 1 — 2% of the cost of finished goods. “Salary is about 6-7% of the cost. So if you calculate the economic effect of the deprivation of benefits and compare itb88to increase the salaries by 25%, then the latter would be more painful step “, - says Ivan Kharchuk.
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