Inco

 
INCO Merger Eats Sudbury Jobs

The largest nickel mining company in the world was created in INCO's $10.6-12.5 billion takeover of Falconbridge on Tuesday. In the "synergies" and "rationalization" that are expected to save the company $350 million by 2007, the Northern Ontario city of Sudbury is expected to lose 100-150 jobs. According to Mineweb, production is expected to jump 25%.

Sudbury is where the International Nickel Co. began their operations back in 1901. While the company has promised to return the jobs to Sudbury and the greater north in the future, the merged mining giant also has holdings in Norway, the Dominican Republic, South America, Indonesia, and New Caledonia, all holdings they intend to keep.

"If this buyout is done with respect and consideration of workers and their contribution to the future of the new Inco, then there should be no loss of jobs anywhere," said Wayne Fraser of the Canadian United Steelworkers. Read their full response here.
What effect will this merger have on YOU?

homepage:: http://thunderbay.indymedia.org/

add a comment on this article