Germany: Chemicals industry settlement opens pay round

In the first of the major industry settlements for 2007, negotiators in the chemicals sector have reached a 14-month deal that provides for a 3.6% increase in agreed pay rates. The increase takes effect after a month has passed, with a lump-sum payment of €70 to cover the initial one-month period. The start date for the new collective agreement varies by region, but is either 1 February or 1 March.