Cambior Inc.: Renewal of the Doyon Mine Collective Agreement.Business Editors LONGUEUIL, QUEBEC--(BUSINESS WIRE)--May 15, 2002 Cambior Inc. (AMEX AMEX See: American Stock Exchange :CBJ CBJ Columbus Blue Jackets (NHL team) CBJ Central Bank of Jordan CBJ Conflict-Directed Backjumping CBJ Circuit Board Jack CBJ Code-Breakers Journal CBJ Class Broker for Java CBJ Color Bubble Jet ) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CBJ.) is pleased to announce that it has reached an agreement with the 306 unionized workers of the Doyon Mine for a term of 6 years, retroactive Having reference to things that happened in the past, prior to the occurrence of the act in question. A retroactive or retrospective law is one that takes away or impairs vested rights acquired under existing laws, creates new obligations, imposes new duties, or attaches a to December 1, 2000 and expiring on November 30, 2006. The hourly employees, represented by the United Steel Workers of America, will receive salary increases of 0.5% for December 1, 2000, 1% for December 1, 2001, 2002 and 2003 and 1.5% for December 1, 2004 and 2005. The cost of living allowance clause representing 60% of inflation remains in effect. The agreement also includes improvements to various fringe benefits fringe benefits, n.pl the benefits, other than wages or salary, provided by an employer for employees (e.g., health insurance, vacation time, disability income). and certain standard clauses. Cambior appreciates the efforts made by the parties involved in reaching an agreement for the long-term renewal of the collective agreement. Cambior Inc. is an international gold producer with operations, development projects and exploration activities throughout the Americas. Cambior's shares trade on the Toronto (TSE) and American (AMEX) stock exchanges under the symbol "CBJ". |
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