Remar - Pascani Management Authorized To Suspend Operations

F.A.
Ziarul BURSA #English Section / 15 ianuarie 2008

Following the protests lodged in early December 2007 by disgruntled employees of Remar SA - Pascani, the majority shareholder has decided to prevent future dysfunctions in the employees" performance.

The shareholders have authorized the chairman of the Board to decide whether to suspend operations if necessary in order to prevent or contain losses and recover such losses if any from the liable parties. The decision was made by the majority shareholder, Grup Feroviar Roman (88.83%) in response to the union movements of end- last year, when the workers spontaneously protested insufficient salaries.

After the conflict was settled, the majority shareholder made the said decision to prevent similar situations and send a warning to the union. As per the applicable legislation, union protests must follow a number of gradual escalation steps in order to be legal. Remar originates in Atelierele CFR, established in 1869, and is the leading employer in the town of Pascani.

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