Strikes force mill shutdown at Australia's largest sugar maker
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 12 2024
0mins
Source: reuters
- Sugar Mill Operations Halted: Australia's largest sugar producer stopped operations at a mill in the Burdekin region due to a pay dispute with workers.
- Threat to Sugar Production: The delay in processing poses a threat to Australian sugar production and exports, potentially shortening the crushing season.
- Worker Unions' Actions: Workers rejected a pay offer, leading to work stoppages and bans, causing the shutdown of the Inkerman Mill.
- Shutdown Reasons: The company halted operations for safety reasons as uncertainty loomed over workers' actions, requiring a safe 12-hour shutdown process.
- Wage Dispute Details: The company offered a 14.25% wage increase over 3.5 years, while unions are demanding an 18% increase over three years.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
