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Statement of JSC Acron

Mass media reported on application by ammonia production staff to Acron’s management to reverse the order cutting bonus payments for November, 2008.

Acron’s management commented on the report declaring that all adopted resolutions to cut bonus payments are adequate and lawful. Under the Collective Agreement the employer may reduce the bonus in case of any production program shortages. Accordingly, the November bonus experienced a cut. Nonetheless, during a meeting of ammonia production staff chaired by the head of Acron’s labour union Sergey Yan some employees did not agree with the employer’s decision to cut the bonus and initiated a collective labour dispute.

According to Acron’s management, this action by the employees is an attempt to destabilize the collective atmosphere. In its turn, the company’s management will continue to honour the Russian law and observe the Collective Agreement.