PRESS RELEASE

The Annual Bonus for the employees of the Tinplate Company of India Limited for the Accounting Year 2009-2010 was finalized today in an agreement entered into between the Management and the Golmuri Tinplate Workers’ Union (GTWU), in the presence of Mr. Ram Pravesh Singh, Dy. Labour Commissioner and Conciliation Officer, Jamshedpur

This agreement has been entered into under sec.31- A of the Payment of Bonus Act, 1965 on the basis of the criteria in terms of production, prime yield, and profitability, agreed to earlier under a settlement dated 29.8.2005.  According to the agreement, although the employees under the unionized purview were entitled to Annual Bonus of 19.05% of their annualized eligible earnings; the Management at the request of the Union that the employees have done their best to achieve higher production as a result of which both ETP and CRM have improved on previous year’s performance setting new records in operational performance, and in recognition of the exemplary work being done by employees as well as to keep the morale of the employees high when the company is poised for growth, agreed for the payment of an ex-gratia amount equivalent to 0.95% of the eligible earnings of the employees during 2009 - 10

In accordance with the agreement, the minimum and the maximum bonus for the employees will be Rs.16,588/- and Rs.39,370/-, respectively.

The agreement was signed by Mr. Tarun Daga, MD; Mr. Ujjwal Kumar, Vice-President (Corporate Services); Dr.C.D.Singh, Director (Medical Services); Mr. Dipankar Chakravarty, (Advisor to MD);  Mr. James Davis, Chief (HRM); Mr. S. Venkatraman, Chief (Works), Mr. Harjeet Singh, CDM( CS) Sk. Mubarak Hussain, CDM (C&A) and Mr. Savio Rebello, Sr. Manager (Logistics), on behalf of the Management and; Mr.Rakeshwar Pandey, President; Mr. R.Appal Raju, Dy. President; Mr. Raja Singh, Sr. Vice-President; Mr. Parbinder Singh and Mr. D.K. Singh - Vice-Presidents; Mr. S.D.Tripathi, General Secretary; Mr. Kashinath, Mr. Shambhu Kumar, Mr. B. Jha  and Mr. Manoj Kumar Singh - Asst. Secretaries; Mr. S.S. Raju, Treasurer and Mr. Abre Alam, Asst. Treasurer, on behalf of the Golmuri Tinplate Workers’ Union. Mr. P.P. Moulik, Manager (Finance), Mr. Nayeem Khan, Manager (MSD), Mr. B. K. Lal  and Mr. Mahender Singh – Advisors to the President (GTWU) were also present on the occasion.

27.9.2010                                                                PUBLIC RELATIONS DEPARTMENT