Lanxess invests 30 mln eur at Saltigo subsidiary; working hours to increase |
|
|
|
Published
:
Tue, 16 Jan 2007 16:32
|
FRANKFURT (AFX) - Lanxess AG said it will invest 30 mln eur in its fine chemicals subsidiary, Saltigo, as part of a 'modernisation' programme that includes a plan to increase staff working hours without extra compensation.Lanxess said in a statement the announcement is over and above another 10 mln eur that will be invested to meet greater demand for fine chemicals.Although Saltigo's formerly 'high deficit' fine chemicals business is seeing a positive turnaround, Lanxess's level of profitability on an international level is not yet satisfactory, said CEO Axel Heitmann.The company said that for this reason, further measures are necessary and it will start negotiations with labour representatives.Measures to be discussed include increasing to 40 from 35 the number of hours staff work each week, without extra compensation, and the introduction of a new shift and flexi-time, the company said.krysia.diver@afxnews.comkd/wjCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
|
|
|
|
Print this Story
British workers put in extra day a week without wages, says TUC study 