Grangemouth petrochemical plant saved from closure

Grangemouth petrochemical plant saved from closure

Phew! Grangemouth petrochemical plant saved from closure

The Grangemouth petrochemical plant has been saved from closure after the owner INEOS agreed a deal with the Unite union.

It marks a lucky escape as the site has been shut down since last week and looked set to close for good after Unite rejected INEOS’ survival plan on Monday.

It will now reopen after the union agreed not to strike for three years and accepted the survival plan. It means workers will also have their pay frozen for three years and will see their pensions change from a final salary to a defined benefits scheme. The deal stipulated changes to union agreements on site, including no full time union convenors.

INEOS held a meeting with workers at 11am this morning to inform them of the agreement.

The adjacent refinery, which has also been shutdown since last week, will be restarted as well.

Read the full article here http://www.energylivenews.com/2013/10/25/phew-grangemouth-petrochemical-plant-saved-from-closure/

Source: Energy Live News

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