Sisecam, Union Avoid Strike; New Toyota Model to Produce on Time

According to Reuters, Turkish glassmaker Sisecam has reached a wage agreement with a workers' union that had been threatening to strike. The deal was announced in a written statement and has prevented the potential delay on the production of Toyota's Corolla Verso, which is manufactured in Turkey.

Wage increases will amount to a 14 percent increase, retroactive for the first half of 2003, 10 percent for the second half of the previous year, and 7 percent for the first half of 2004, according to the wage agreement, it is reported.

Sisecam supplies 90 percent of glass components for Turkey's auto industry and shares for the company rose 4.14 percent after the announcement was made, the Reuters report indicated.

Kristal-Is, the union involved in the wage dispute, had previously filed a court appeal against the federal government, requesting that the government ban on strikes be overturned and coworkers who have lost their jobs be reinstated. The union had tried to strike twice before, in October 2003 and again in January 2004, resulting in a 60-day governmental ban on the action.