Ironworks TŘINECKÉ ŽELEZÁRNY has reached an agreement with the basic organization of the KOVO Třinecké Železárny trade union on the raising of the wages by 4%. If the firm exceeds the planned economic result, the employees will have their salaries raised by further 2%. This is warranted by the new collective agreement valid for the next three years. The employees’ wages will thus grow by an average of CZK 1,050 per month in 2016. The average wage in 2015 exceeded CZK 29,000. The ironworks plans to invest ca. CZK 12bn into modernization and equipment renewal until 2019. CZK 2bn of the total is designed for environmental projects.