THE Bauxite Company of Guyana Inc. (BCGI), part of UC RUSAL, the world’s largest aluminum producer, yesterday announced that it has agreed on new salary terms with its employees.

BCGI, in a statement, said it will increase wages by 4.5% across the board starting from 1 July, 2010 as a result of good production results that have been achieved in compliance with the “Cost Efficiency Leader” programme. This increase in wages plus allowance will give an overall average increase of 10.1%.

Sergey Kostyuk, General Manager of BCGI said: “We are always mindful of the welfare of our employees. Despite the financial turbulences affecting the world, the company will continue to seek ways and means to continuously enhance the monetary rewards to our employees. The stable industrial relations climate and the commitment of employees over the last eight months have greatly assisted in keeping the wheels of production turning resulting in the ability of the company to grant this increase.”
“We are confident that with the continued support of our employees we will be able to secure sustainable growth of our company,” Kostyuk added.
UC RUSAL is the world’s largest producer of aluminum, in 2009, accounting for approximately 10% and 10% of global production of aluminum and alumina, respectively. UC RUSAL employs about 76,000 people in 19 countries, across 5 continents. UC RUSAL markets and sells its products primarily in the European, Japanese, Korean, South East Asian and North American markets.