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Noranda Income Fund Unit T.NIF.UN


Primary Symbol: NNDIF

Noranda Income Fund is a Canadian based income trust. The fund owns the electrolytic zinc processing facility and ancillary assets located in Salaberry-de-Valleyfield, Quebec. It produces refined zinc metal and by-products from sourced zinc concentrates. The fund's long-term objective is to maximize unitholder value and provide monthly distributions to unitholders.


OTCPK:NNDIF - Post by User

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Comment by Bigbird9999on Feb 12, 2017 8:15pm
128 Views
Post# 25835303

RE:RE:NEW UPDATE! WORKERS IN STRIKE NOW!

RE:RE:NEW UPDATE! WORKERS IN STRIKE NOW!It seems I am not the only one who questions  the lack of transparency in not releasing the terms of the contract.....
Translated below for those who failed high school French.........   BB

Workers at the zinc processing plant, CEZinc of Salaberry-de-Valleyfield, Montrgie, have launched a general strike on Sunday morning, the union said.

This dispute involves 371 workers affiliated with the United Steelworkers union. In its statement, the union accuses the employer of lacking transparency by not disclosing the terms of its zinc supply contract and the terms of its purchase agreement with Glencore.

"Our factory is competitive, the workers are qualified and we have broken production records. We will not accept setbacks for the pleasure of a gourmet employer, "Local 6486 President Manon Castonguay said in a statement.

The refinery is owned by Noranda Income Fund and the multinational Glencore. According to the company's site, this refinery was opened in 1963 in Quebec and is growing steadily. Zinc production has even quadrupled.

"The employer, the Noranda Income Fund, pushed us to the strike. On the one hand, he is asking for major concessions in the pension plan without making a serious demonstration of the difficulties of the company, "said Steelworker Union representative Luc Julien.

The Glencore Group has more than 90 offices in more than 50 countries.

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