Western India Shipyard in 4-yr wage contract with workmen

Western India Shipyard, a one stop comprehensive ship repair facility on the west coast of India, has entered into a long term wage settlement with its workmen on December 30, 2010 for 4 years granting them a substantial increase in wages, variable dearness allowance (VDA) and other benefits in view of positive improvement in the operations.

With this, the management is assured of industrial peace and harmony; and cordial long term relations in the future, the company said in a filing to the Bombay Stock Exchange (BSE).