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Press Releases / 2010 / OKD signs collective agreement with Trade Unions 

OKD signs collective agreement with Trade Unions

22/1/2010

Amsterdam (22 January 2010) - New World Resources N.V. (“NWR” or the “Company”), Central Europe’s leading hard coal producer, announces today that OKD, a.s. (“OKD”), its wholly owned subsidiary, has concluded negotiations with the Trade Unions and has signed a new collective agreement for 2010.

The conditions and wages agreed in the new collective agreement imply flat personnel expenses at OKD in 2010 compared with 2009 on a constant currency basis.

“We are pleased to announce that we have concluded the negotiations and feel that we managed to reach a good outcome for both parties. The agreement ensures steady income to our employees and allows the Company to better manage the consequences of the economic downturn,” said Miloslava Trgiňová, Chief Human Resources Officer and Deputy Chairwoman of OKD.

The new collective agreement is effective as per 1 January 2010 and is valid until 31 December 2012. The wages are, however, renegotiated on a yearly basis.

- Ends -

For further information please contact:

New World Resources N.V.

Investor Relations
Tel: +31 20 570 2270
E-mail: ir@nwrgroup.eu    Corporate Communications
   Tel: +420 225 282 163
   E-mail: petra.masinova@okd.cz 

Website:  www.newworldresources.eu

New World Resources N.V. 
New World Resources N.V. is the sole owner of OKD, a.s., the Czech Republic’s largest hard coal mining company and one of the largest producers in Central Europe by revenue and volume. Serving customers in the Czech Republic, Slovakia, Austria, Poland, Hungary and Germany, the Company produced 12.7 mt of coal in 2008, 7.4 mt of which was coking coal.

22 Jan 2010 OKD signs collective agreement with Trade Unions (62KB PDF)

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