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Romania’s Hidromecanica Employees Press For Salary Payment

The employees of Romania’s engine and turbines manufacturer Hidromecanica Brasov staged a protest on Thursday to press for salary payment, saying will not resume work until they receive their paychecks.
Romania’s Hidromecanica Employees Press For Salary Payment
20 nov. 2008, 18:50, English

According to trade union officials, protests at Hidromecanica started Tuesday, when part of the 400 employees stopped working over non-payment of salaries for the last several months. On Thursday, the remaining employees joined the protest.
 
Company managers assured the employees will receive their salaries shortly, but the protesters refused to resume work until then.
 
Hidromecanica’s director, Dorin Dorobantu could not be reached for comments by presstime.
 
The company has a share capital of 6.4 million lei (EUR1-RON3.8258), divided into 2.58 million shares at a face value of RON2.5 each.
 
Romania’s privatization authority AVAS sold a 50.9% stake in Hidromecanica to businessman Lucian Garbacea in 2005. Regional investment fund SIF Transilvania (SIF3.RO) owns another significant stake in the company, of 45.21%.