S AFRICA: KWV workers strike over proposed cuts
KWV South Africa employees have staged lunchtime strikes this week over proposed retrenchments, claiming the company's restructuring process was not transparent.
The Food and Allied Workers Union said the company had informed it in May that 104 employees could be affected if the restructuring took place. KWV SA is a the production wing of KWV Limited and workers at the company's Paarl, Worcester and Upington plants demonstrated.
KWV has also just completed a seven-month, R6m plus revamp of its 75 year-old Cathedral Cellar in its Paarl production complex, but said the two issues could not be related.
In a statement the Union said it saw the intended restructuring as a "smoke screen", because wage negotiations were also underway at the same time.
The restructuring also came as a surprise after KWV's high profile black empowerment deal last year, where black employees received the equivalent of a 6.7% stake in KWV Limited.
The Union queried how the retrenchments would affect the shares of people who lost their jobs.
KWV attributed the reduction to improving profitability and effectiveness in its business.
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Cautious optimism is probably the best way to describe today's press reaction to Pernod's friendly bid for Allied Domecq....
Spirits firm Allied Domecq has agreed to a takeover bid from smaller rival Pernod Ricard, subject to agreement from Allied shareholders....
Allied Domecq last night accepted Pernod Ricard's offer to buy the UK-based drinks giant....
Allied Domecq today delivered a 7% increase in first half group profits before tax to £285m. Earnings per share were up 7% to 19.2p, turnover that was flat at £1,700m....
Drinks producer and distributor Todhunter International has said that its controlling shareholder, CL Financial, is interested in acquiring some of the brands of Allied Domecq that may become availabl...
Pernod Ricard has had its rating raised....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
- Analysis - SABMiller to add bolt-ons in Africa?
- A-B InBev's Move on Tennent's Super Makes Sense
- India: Everyone's Favourite Spirits Market
- Brand Diversification Driving Craft Brewery Growth
- Analysis - Stock Spirits: Poland's number one
- Diageo scraps Arthur's Day, but singer left sad
- Pernod Ricard's Café de Paris Pear, Pomegranate
- PepsiCo CEO sees "profound" change in US consumers
- William Grant sinks GBP185,000 into "No" camp
- SodaStream silent on John Lewis pullout in UK