Thursday, May 23, 2013
(This article was first published on Wednesday)
DUBAI (Zawya Dow Jones)--Arabtec Holding (ARTC.DFM) said it has resolved a labour dispute at the U.A.E.-based construction company with no impact on any of its projects.
Work had stopped since Saturday, some labourers told Zawya Dow Jones earlier this week, but Arabtec said the stoppages were "partial".
"The stoppage was resolved amicably," Arabtec said in a statement posted on the Dubai bourse website late on Monday, noting "all workers returned to work."
The company earlier Monday had said it was working closely with various government agencies including the U.A.E. Ministry of Labour and the Dubai Police to resolve the stoppage by "a limited group of Arabtec Construction LLC labor employees, primarily from Bangladesh."
It then said the demands being made contravene both the U.A.E. labour laws and the contracts signed with the company.
In the statement made late on Monday, Arabtec said the "unwarranted stoppage had been instigated by a minority group who will be held accountable for their actions."
Some workers Zawya Dow Jones spoke to early Tuesday confirmed that they were back at work after the company promised to provide them with daily meals, something the company had said it was already doing.
Arabtec shares closed down 0.8% at AED2.37 on Tuesday, after falling 2.1% in the previous session.
Write to Nikhil Lohade at nikhil.lohade@dowjones.com
Copyright (c) 2013 Dow Jones & Co.
(END) Dow Jones Newswires
23-05-13 0327GMT
