Financial Daily from THE HINDU group of publications
Sunday, Apr 04, 2004
Financial Daily from THE HINDU group of publications Sunday, Apr 04, 2004 |
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Corporate
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Trade & Labour Unions Tata Steel signs MoU with workers' union Our Bureau
Mumbai , April 3 TATA Steel and Tata Workers' Union have signed a memorandum of understanding under which the employees of Town Division, Tata Steel, will be transferred to the newly formed company called the Jamshedpur Utilities and Services Company (JUSCO). Mr B. Muthuraman, Managing Director, Tata Steel, and Mr R.B.B. Singh, President, Tata Workers' Union, have jointly signed the agreement, along with the officials of Tata Steel and Tata Workers' Union. This agreement will help Tata Steel focus on its primary business of production and marketing of iron and steel as well as to retain its competitive advantages and leadership position in the industry. ``Simultaneously this will help improve the quality of life and services for its employees and the community in a more focused manner,'' a news release said. JUSCO has the potential for the growth of businesses related to municipal and other services in Jamshedpur and other cities, which has so far remained untapped. ``Tata Steel felt that there was a need to create a separate organisation for a more professional approach for further enriching the quality of services currently managed by its Town Division,'' the release said. JUSCO is a wholly-owned subsidiary company of Tata Steel formed with the objective of providing services in the area of housekeeping & hospitality, town planning & engineering, civil construction and maintenance, public health, education, horticulture, fleet management, water and waste water management, power distribution and many other similar activities.
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