Treasury, Bazan workers sign deal

The deal ensures that the refinery workers will cooperate in the company's privatization, the Finance Ministry said.

By DANIEL KENNEMER
June 15, 2006 07:16
bazan logo 88

bazan logo 88. (photo credit: )

 
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Finance Minister Avraham Hirchson and Histadrut Chairman Ofer Eini signed an agreement Wednesday to anchor workers' rights during the impending privatization of Oil Refineries Ltd. (Bazan). The deal - which settles severance, lay-off and hiring conditions, alongside other wage and labor issues - ensures that the refinery workers will cooperate in the company's privatization, the Finance Ministry said. Workers will also receive compensation for the privatization according to the agreement, but the ministry would not disclose the amount. The privatization scheme involves dividing Bazan in two, with the Ashdod and Haifa facilities competing against each other.

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