Stainless Steel to return to five-day week

The 107 workers at Stainless Steel Products Ltd will be returning to a five-day week on Monday.

The workers have been on a four-day week for the past two-months since production at this company had dropped to 60 per cent.

Following an agreement with the government, the company is going to widen its operation lines, getting work which used to be done in China to Malta. It will be investing 300,000 euros in new equipment and tooling.

CEO Joe Delia told a news conference that one of the most decisive elements in this decision was the long-sighted policy of the Maltese government amidst the international financial situation. This policy was admired by the company.

Similar agreements have already been reached with Methode and Trelleborg.

Finance Minister Tonio Fenech said these were the biggest three companies with workers on a four-day week. Discussions are ongoing with other companies, including ST.

The government's policy, the minister said, remained to help companies invest.

ME chairman Alan Camilleri said there was a common element in the three agreements with all companies investing in a higher added value lines.

(Photo: DOI, Martin Attard)