wiredinUSA November 2013

IEC workers get 10 percent

Steel cord plant closure

Israel ElectricCorporation (IEC) employees will receive 10 percent of a fiber optic venture in which the utility is a partner. IEC owns 40 percent of IBC, the venture that will deploy a nationwide fiber-to-the-home network. Sweden’s ViaEuropa AB and a consortium of Israeli companies own the remaining 60 percent. Sources said that in talks between IEC’s management and workers committee, it was agreed that employees would receive 15 percent of IEC’s stake in IBC for free (amounting to six percent of IBC), and that they can buy up to another 10 percent of IEC's stake (four percent of IBC) at its economic value. IEC needs the full participation of its employees for the fiber optic venture to succeed. The company plans to hire 150 employees for the venture who will work under a special collective agreement, the terms of which have not yet been settled. IEC also plans to transfer scores of tenured employees to IBC to carry out work in addition to their regular jobs.

Bridgestone Corporation is to close its steel cord facility in Kuroiso, Japan, within the next 12 months and consolidate production into its remaining Japanese steel cord plant, Saga. previously “implemented a number of initiatives” to increasetheKuroisosite’scompetitiveness and overall profitability, but is now taking the step of closing the facility and consolidating production in Saga. At the start of 2013 the 42-year old Kuroiso plant had a 47,000 ton per annum steel cord capacity, 6,200 ton per annum hose wire capacity and 29,000 ton per annum bead wire capacity. Bridgestone has not indicated how much of this capacity will be transferred to the Saga facility’s overall capacity, nor has it indicated if any of the 355-member Kuroisoworkforce will be offered employment at Saga. As of January 2013 the Saga plant, which commenced operations in 1982, was capable of producing approximately 90,000 tons of steel cord and 700 tons of cable bead wire a year. Bridgestone anticipates a workforce of 539 in Saga by the end of this year. Bridgestone says it

wiredInUSA - November 2013

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