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Egypt's spinning & weaving firm to shut textile unit
01 Nov '11
2 min read
Arab Polvara Spinning and Weaving Company (UNIRAB), a textile manufacturing firm based in Egypt's Alexandria, has announced that it would shut down one of its textile production units.
UNIRAB is streamlining its operations at the unit and has urged workers to voluntarily opt for early retirement. Those who do not opt would be provided training to work in spinning units, the company said.
Workers of the firm staged a 10 day strike during early October 2011 seeking restoration of the firm, which was privatised in 2006, as a public sector entity. The workers claimed that the management intended to sell-off the firm.
With an intention to bring an end to worker's strike, UNIRAB announced a temporary shutdown and kept its factories shut from October 8 to 13. This move of the company proved effective as workers resumed to work post closure.
Besides reinstating the firm as a public sector entity, workers were seeking a rise in meal allowances and bonuses - benefits equal to those drawn by their counterparts in the public sector.
The firm sanctioned a rise in meal allowances but has yet not granted the 200 percent bonus rise.
Presently, 80 percent of the company's stakes are held by private investors, while 17.5 percent share is with the Government-owned Holding Company for Spinning and Textile and the rest are owned by the workers.
Engaged in the field of textile manufacturing and yarn weaving, Polvara specializes in manufacturing, marketing and trading of cotton yarn, wool yarn, silk and linen fabrics, synthetic fibres, and other types of coloured textiles and polyester sewing threads.
UNIRAB is streamlining its operations at the unit and has urged workers to voluntarily opt for early retirement. Those who do not opt would be provided training to work in spinning units, the company said.
Workers of the firm staged a 10 day strike during early October 2011 seeking restoration of the firm, which was privatised in 2006, as a public sector entity. The workers claimed that the management intended to sell-off the firm.
With an intention to bring an end to worker's strike, UNIRAB announced a temporary shutdown and kept its factories shut from October 8 to 13. This move of the company proved effective as workers resumed to work post closure.
Besides reinstating the firm as a public sector entity, workers were seeking a rise in meal allowances and bonuses - benefits equal to those drawn by their counterparts in the public sector.
The firm sanctioned a rise in meal allowances but has yet not granted the 200 percent bonus rise.
Presently, 80 percent of the company's stakes are held by private investors, while 17.5 percent share is with the Government-owned Holding Company for Spinning and Textile and the rest are owned by the workers.
Engaged in the field of textile manufacturing and yarn weaving, Polvara specializes in manufacturing, marketing and trading of cotton yarn, wool yarn, silk and linen fabrics, synthetic fibres, and other types of coloured textiles and polyester sewing threads.
Fibre2fashion News Desk - India
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