Aluminum Workers Seek to Annul Glencore Contract, Mundo Says -Shanghai Metals Market

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Aluminum Workers Seek to Annul Glencore Contract, Mundo Says

Industry News 09:25:57AM Apr 09, 2010 Source:SMM

CARACAS, Apr. 9 -- Venezuelan aluminum workers at the state-run industrial holding company Corp. Venezolana de Guayana are seeking to annul a supply contract with Glencore International AG, El Mundo said.

Workers at CVG units Alcasa and Venalum plan to seek legal action to nullify the contract with Baar, Switzerland-based Glencore, El Mundo reported, citing Henry Arias, director of a workers union at Alcasa. The contract stipulates selling 12,000 tons of aluminum a month to Glencore, the Caracas-based newspaper said today.

The accord harms the domestic aluminum industry because the company doesn't pay a value-added tax, Arias told El Mundo. Former Basic Industries and Mining Minister Rodolfo Sanz reportedly signed the agreement, the newspaper said.

Carlos Perezagua, a Glencore spokesman in Switzerland, declined to comment when contacted by Bloomberg News.


 

Key Words:  Aluminum Al 

Aluminum Workers Seek to Annul Glencore Contract, Mundo Says

Industry News 09:25:57AM Apr 09, 2010 Source:SMM

CARACAS, Apr. 9 -- Venezuelan aluminum workers at the state-run industrial holding company Corp. Venezolana de Guayana are seeking to annul a supply contract with Glencore International AG, El Mundo said.

Workers at CVG units Alcasa and Venalum plan to seek legal action to nullify the contract with Baar, Switzerland-based Glencore, El Mundo reported, citing Henry Arias, director of a workers union at Alcasa. The contract stipulates selling 12,000 tons of aluminum a month to Glencore, the Caracas-based newspaper said today.

The accord harms the domestic aluminum industry because the company doesn't pay a value-added tax, Arias told El Mundo. Former Basic Industries and Mining Minister Rodolfo Sanz reportedly signed the agreement, the newspaper said.

Carlos Perezagua, a Glencore spokesman in Switzerland, declined to comment when contacted by Bloomberg News.


 

Key Words:  Aluminum Al