TRF pays 20% Bonus
  
Mr Sudhir Deoras,MD TRF Ltd and Mr Rakeshwar Pandey, President, TRF Labour Union along with office bearers of the Union signing the bonus agreement.   Mr Sudhir Deoras,MD TRF Ltd and Mr Rakeshwar Pandey, President, TRF Labour Union at the bonus agreement.


Jamshedpur
September 16, 2009


The Management of TRF Limited and the Tata Robins Fraser Labour Union signed an Agreement on September 16, 2009 for payment of Annual Bonus for the accounting year 2008-09. The Agreement is based on the formula linked to productivity, turnover and profitability of BMHE and BMHS Divisions which was agreed to for the accounting years 2007-2008, 2008-2009 and 2009-2010 between the Management and the Union vide agreement dated September 27, 2007.
    
In accordance with the said Agreement, eligible employees will receive 20% bonus / Ex-gratia (previous year 20%) of their respective actual earnings (Basic + DA) earned during the accounting year 2008-2009.

The minimum bonus / ex-gratia works out to Rs.10,488/- and maximum  bonus / ex-gratia amount which eligible employee(s) will receive works out to Rs.39,896/-.

The Company, on the request of the Union and in view of the start of festive season, has made arrangements to disburse the Bonus immediately from September 17, 2009.

On behalf of the Management Mr Sudhir Deoras, Managing Director, Mr Hemant Kharkar, Chief Operating Officer, PP Deshmukh, Chief of BMHS Division, Ashim Roy, General Manager (Finance & Accounts), NK Singh, Head-Works and Arvind Kumar, Sr. Divisional Manager (Personnel & Administration) and on behalf of the Union Mr Rakeshwar Pandey, President, R.K. Rahi, General Secretary, Harbhajan Singh, Deputy President, RB Rai, Vice President, MH Hiramanik and Lal Sandil, Assistant Secretaries, Mrs. Devika Singh, Treasurer and KH Rao, Advisor and all Executive Committee Members  signed the bonus agreement.


TRF Ltd is a pioneer in engineering and supply of material handling equipment and systems for five decades. The company’s subsidiary, York Transport Equipment (Asia) Pte Limited, Singapore is engaged in the business of production and distribution of trailer undergears, with market presence in 27 countries. York Transport Equipment (Asia) Pte Ltd has three manufacturing facilities world wide, including one in India. TRF has also set up Adithya Automotive Applications Limited, an automotive applications unit under a joint venture in Lucknow. More recently, TRF acquired a 51% stake in Dutch Lanka Trailer (DLT) Manufacturers Limited, Sri Lanka. DLT is a world class trailer manufacturing company and has manufacturing facilities in Sri Lanka, Oman and India. It exports trailers in as many as 30 countries.






(Rajen Sahay)
Head, Corporate Communications
TRF Limited