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30-Apr-08 11:15 [Pensions]
Pensions proposal produced Talks between union members and the bosses of Ineos may have produced a breakthrough in the pension's dispute, according to the Scotsman.
Around 1,200 workers went on strike at the Grangemouth oil refinery following plans by Ineos to replace its non-contributory pension plan with one which would require a six per cent contribution from employees.
However, Tom Crotty, the chief executive of Ineos, and chairman Jim Ratcliffe met with the general secretaries of the union Unison to bring an end to the issue.
Following the meeting, a joint statement was issued saying: "It was a constructive and meaningful discussion and ended in a proposal that will be considered by the company and the union, with a view to finding a resolution to the dispute."
It is estimated that it will take up to a month to get the refinery running at full capacity again.
The lost production contributed to oil prices reaching a record high of $120 (£61) per barrel.
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