CAIRO: Egyptian ceramics maker Lecico has negotiated a new deal with workers that includes a significant increase in pay after they stopped work in a general strike on Feb. 12 and 13.
Lecico’s factories continued to produce over the past 2-1/2 weeks despite political turmoil and a wave of strikes that ground much of the economy to a halt, but other operations were disrupted, Lecico also said on Tuesday.
"It is perhaps part of the change process now sweeping Egypt that the worker’s compensation and rights will be renegotiated through protests and stoppages inspired by Tahrir Square," Lecico said.
Lecico’s productivity was down 30 percent during those two weeks and its local commercial and export activity halted for eight days from Jan. 29, it said.
Analysts say Lecico, a major exporter, could benefit if the Egyptian pound depreciated. The pound, supported by heavy central bank intervention, has lost only about 1 percent of its value against the dollar since protests erupted on Jan. 25.
Lecico exports a third of its sanitary ware including toilets and sinks, and has a significant presence in Britain and France.
