2 344 52 3199 --T A H
No
imucasm sim"MWU
5 A.. to
TABACAMA HONDURERA, S. A.
"AAFA60 Post" 84
84" "NO 19U, NOMOVU& C. A.
PAZ 0&4319"9
MEMORANDUM
To:
rrom:
r. Vargas
R. Flores
Subject: Annual Report Com-ents/
Personnel Deparemenr
Datel rabruary 21, 1990
Diract conv:rz:tion a 11 ith the representatives
OL Lhe Union
Workor, war i Iciat.d in the month of january of
1989 in
order to accomplish the subscription of the 6Lh
Collective
Contract of Working Conditions. Duo to the
difficulty nt
reaching an agreement, the parties decided to
determine tha
11 irect negotiations as exhausted; then
initiating the second
.Logo by requesting to the authorities of the
Miniscry of
La her the proceedings or the mediation.
Satistarrary Agree-
.ant for both the Company an well as for the Union
wo I
reached after 8 hearings. The results were aL
~enarll for
the workers who maintain the Company In a loading
position
In the nation not only in the salary levels but as
well as
in other social banatits. The noRotiarions of the
Collective
rontract continued Lor 5 months.
Apart from the Collective Contracting, an
atmosphere of
cordia I I. t y has been kop c wi L h I n the
Compsoy-Worke r rc I a L I an a .
fortunately, no incidents have been prazent-nd
that Could
threaten the atmosphere of cranquIlity within the
Company.
The only regretful incident to mention duiing the
perlod
was the violent death of the President of the
Union Workers
which occurrcd in July.
During the year of 1989, the Company COnLiuved
being A strung
source Of OmplOyMOUL since besides continuing to
Lncrease
the permanent employees hired it also Increased
the number
ot temporary employees in relation to the
preceding years.
Approximately 350 temporary workers between men
And women
were contracted this year.
The Plan of Training & Dt:velOPMCnL Of the
porson-vel -an
continued, emphasized in this area was the. "Blake
Seminar"I
which cook place in November of -1~lth -k-
majority or the
personnel al. the supcrv -, level of the ifferent
departments
of the Company partielp ed.
-4
Qn
BAT Industries document for Province of British
COIUMbia 23 April 1999


63,06.,111 18934 X 364 52 3109 -.7 A N 5 A- 49
FINANCE
Turnover during 1989 wan L.136.6 million compared
to L.108.5 million
for 1988. our nantribucinn to anvFirnment revrnisr
thrnugh Excise and
gals Tax also increased from last year.
Trading Profit Increased to L.30.7 million In
cumparlson with L.25.6
million obtained in 1988. Net interest received
were L.1.2 million
compared to L-2.2 million in 1988. As a result of
Clio above, Profit
Before Tax increased by L.4.2 million to 1-31,9
million for the year.
In sum, Profit After Tax increased to L.17.6
million compared to the
L.16.2 million obtained in 1988.
CENIUL
During the year, total taxes paid to the Central
and Municipal
Government amounted to L.81.2 m1llIun which
reprosents a growth of
30% over the total value paid during the previous
year.
Once again we have made a very Important
contribution to the national
economy, specially in the rural aras of the
country by purchasing
tobacco from Indepoodent farmers, which during the
crop year 1988/1989
amounted to L.9.6 million.
We take this opportunity to thank all our
employees, independent
farmers and distribucors of our productx for their
contribution towards
the continued growth of this company.
ON
BAT Industries document for Province of British
Columbia 23 April 1999