EVRAZ Restarts Operations at South African Site

EVRAZ plc (LSE:EVR), Russia’s biggest steelmaker, announced that it has restarted operations at South Africa-based EVRAZ Highveld Steel and Vanadium Ltd. (OTC Pink:HGVLY) following a four-week strike at the site.

As quoted in the press release:

The main dissenting issue, namely converting the three-shift system to a law compliant four-shift system, has been resolved and all operational employees reported to duty on 13 August 2012 on the new four-shift system. Agreement has further been reached on certain compensation for the employees who would have been negatively financially impacted by the implementation of the four – shift system.

The steelworks re-started on 13 August 2012 and it is expected that the steelworks will be fully operational by the end of August. The Company will focus on meeting all orders and commitments to its clients and partners.

Click here to read the full EVRAZ plc (LSE:EVR) press release.