Drummond signed eight collective bargaining agreements with unions

Santa Marta, May 22, 2019

Drummond Ltd. is pleased to report that in recent days the company signed collective bargaining agreements with the union organizations Sintramienergética, Agretritrenes, Sintramineros, Sintradrummond, Sinempromi, Sintraminal, Sintramined and Sintradem.

This was a negotiation process characterized by dialogue, cordiality and a clear intention that what was agreed upon would be mutually beneficial to all parties. At the same time, we must highlight the proactive participation of the negotiating teams in order to reach agreements within the deadlines established by law.

These conventions constitute an integral solution that includes several of the concerns raised by the workers and the negotiating teams. The agreement, which includes a signing bonus, can be summarized as follows:

  • Validity of collective agreements: 3 years
  • Salary increase:
    • 1st year: 6.00%
    • 2nd year: 1.50% additional to the CPI for the year 2019
    • 3rd year: 1.50% additional to the CPI for the year 2020

These collective agreements also include important increases in other benefits such as health insurance, education grants and scholarships, housing revolving fund, location assistance, seniority bonus, among others.