KGHM employees want additional PLN 100m

opublikowano: 20-03-2007, 14:22

Warsaw (Puls Biznesu) – Record income generated by  KGHM copper producer last year have become the curse for Krzysztof Skora, the company CEO. Trade unions want additional payments.

KGHM is planning how to split its 2006 record income of PLN 3.4 billion (EUR 877.2m). The management believes that shareholders should be paid out PLN 7 a share. The chairman suggested twice that much. Trade unionists have their own ideas. ZZPPM trade union headed by Ryszard Zbrzyzny, MP of SLD leftist party, demands PLN 100m to be spent on the social fund.

“The fund lacks Money while the employers’ Leeds are huge. There are over 17,500 people employed in KGHM and you have to wait even one year to get a loan. With the record income there should be no problems with increasing the fund”, Ryszard Zbrzyzny said.

The supervisory board of the listed copper producer was discussing yesterday the way of sharing the income. The management would like to spend about PLN 1 billion annually for investments in the upcoming five years. Last year, shareholders received dividend of 87 percent of 2005 income which amounted to PLN 2.29 billion. ZZPPM managed to convince the management to pay 50m out of this sum for the social fund.

(PLN 1 = EUR 0.258)

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