Thousands of workers at one of the largest Egyptian state-owned companies staged a sit-in at the Hadisolb plant in the South Cairo area to demand a share of the profits. The workers blocked the road with a tanker barrel and said they will continue the strike until the company issues an official statement with the date of payment. According to the workers, the cost of closing the blast furnace is very high and they are hoping for concessions.
The general meeting of the company determined the earnings on shares of 11,969 workers, which they expected to receive in November, as every year. The union center ensures that the water barrel is replenished with clean water for workers. The morning shift took place in a sit-in, and the night shift is also expected to join later. Unions say the administration has punished some workers who played a leading role in the strike.
The workers are also demanding the resignation of the CEO and President of the Metallurgical Industry Holding. They asked management to increase investment in the modernization of the company. One of the most famous incidents at the plant was in 1989 during the Mubarak era, and ended in clashes with security forces, in which one worker died, many were injured, and dozens were detained.
The Board of Directors of the Company has ratified the results for a three-month period. The data showed that the net loss after tax rose from $ 44 million in 2012 to $ 95 million this year. Meanwhile, Hadisolb said in September that it recently signed a restructuring contract with Tata Steel UK Consulting Ltd in addition to increasing production capacity to 1.2 million tonnes of final product.
