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Grangemouth refinery to close its plant for at least a month
22 Apr '08
3 min read
The union continues to mislead its membership with wildly inaccurate figures. They claim the refinery makes £3m a day. This is nonsense. The company needs to invest £750 million to make Grangemouth a competitive long-term business. With this level of investment, the site would not be profitable for at least 7 years. The need for change is urgent and undeniable.
The dispute centres around INEOS's determination to make Grangemouth a competitive long-term business. Addressing the pensions issue is part of this process. Currently over a quarter of the entire money that INEOS spends on employees at Grangemouth goes into the pension scheme and independent experts say that this figure could rise to almost 50% going forward. This figure is excessive and unsustainable in the longer term.
Click here to read more details:
INEOS wants to invest in Grangemouth, but the conditions need to be right.
The dispute centres around INEOS's determination to make Grangemouth a competitive long-term business. Addressing the pensions issue is part of this process. Currently over a quarter of the entire money that INEOS spends on employees at Grangemouth goes into the pension scheme and independent experts say that this figure could rise to almost 50% going forward. This figure is excessive and unsustainable in the longer term.
Click here to read more details:
INEOS wants to invest in Grangemouth, but the conditions need to be right.
INEOS
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