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Strikes to hit energy, drug firms

Jul 07 2011 16:03 Sapa

Company Data

Sappi [JSE : SAP]

Last traded R27.23
Change R0.31
% Change 1.15%
Cumulative volume 33,564
Market cap R14.74bn

Last Updated: 28/05/2012 at 11:34. Prices are delayed by 15 minutes. Source: McGregor BFA

 

Tigbrands [JSE : TBS]

Last traded R242.26
Change R-4.44
% Change -1.80%
Cumulative volume 433,666
Market cap R46.19bn

Last Updated: 28/05/2012 at 11:34. Prices are delayed by 15 minutes. Source: McGregor BFA

 

Omnia [JSE : OMN]

Last traded R98.00
Change R0.50
% Change 0.51%
Cumulative volume 2,950
Market cap R6.59bn

Last Updated: 28/05/2012 at 11:34. Prices are delayed by 15 minutes. Source: McGregor BFA

 

Sasol [JSE : SOL]

Last traded R358.99
Change R5.41
% Change 1.53%
Cumulative volume 229,338
Market cap R231.38bn

Last Updated: 28/05/2012 at 11:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

Adcock [JSE : AIP]

Last traded R63.90
Change R0.67
% Change 1.06%
Cumulative volume 32,870
Market cap R11.16bn

Last Updated: 28/05/2012 at 11:34. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - A full-blown strike in the petroleum and pharmaceuticals sector will kick off on Monday, the Chemical, Energy, Paper, Printing, Wood and Allied Workers Union (Ceppwawu) said on Thursday.

"Hundreds of companies will be affected and amongst the major ones are Sasol [JSE:SOL], Engen, BP, Caltex Refinery, Total, Sapref, AEL, Nampak Glass, Consol Glass, Omnia Holdings [JSE:OMN], Adcock Ingram Holdings [JSE:AIP], Tiger Brands [JSE:TBS], Kimberly Clark and many others," Ceppwawu general secretary, Simon Mofokeng said.

About 70 000 workers are expected to go on strike.

This would include members of the General Industries Workers Union of South Africa (Giwusa).

Industries affected could include petroleum, pharmaceuticals, glass, industrial chemical, and fast moving consumer goods.

Tissue and Allied Union members would join the strike towards the end of next week, he said.

"The companies affected here will be amongst others, Sappi [JSE:SAP], Mondi Pak, PG Bison and so on."

Mofokeng said workers wanted a wage increase of 11% to 13% across board. Wages must be a minimum of R6 000 a month.

Other demands were job security, to include an outside bargaining unit category, six months' fully paid maternity leave and a 40-hour working week without pay loss.

"Our demands are in line with the living wage campaign of Cosatu adopted at the recent central committee.

"The strike comes as a direct result of the intransigence and greed of the employers. Employers have, over the past two months in wage negotiations, consistently refused to accede to the legitimate and reasonable demands of the unions and members," he said.

 

 
 
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It pays to know the cost and what you’re getting in return
May 28 2012 09:33

Investors may not have a clue what they’re paying their money managers or they type of service they’re getting, or, whether they can actually negotiate lower fees. (Reuters)

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