fenoco – Finance Colombia https://www.financecolombia.com Connecting Colombia to the global capital markets, analysts, economists, investors, and executives that matter Thu, 22 Dec 2016 21:59:11 +0000 en-US hourly 1 https://www.financecolombia.com/wp-content/uploads/2016/01/cropped-Favicon-32x32.png fenoco – Finance Colombia https://www.financecolombia.com 32 32 Feneco Reaches Labor Agreement with Union to Avoid Strike https://www.financecolombia.com/feneco-agrees-new-labor-agreement-union-avoid-strike/ Thu, 22 Dec 2016 18:39:23 +0000 https://www.financecolombia.com/?p=9988 Colombia’s main coal railway has reached a salary agreement with its two major labor unions. The deal with the majority of its workers is being celebrated by Ferrocarriles del Norte de Colombia S.A. (Fenoco) as the news will prevent the potential for a strike that could have severely impaired the coal-producing nation’s export.

The new deal is for five years and includes raises and increased benefits for members of Sintravifer an Sintraime, the two unions involved in the negotiations. Among the enhanced benefits are provisions for education, food, and transportation, according to Fenoco.

Labor talks have dragged on throughout the month, leading to further fears that a disruption would occur. The two sides extended their negotiations on December 5 after the first round of discussions ended without a resolution.

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