It is reported that a 4% pay rise has been accepted for Scunthorpe's 4,000 Corus steelworkers. The deal, sealed in London by the industry's largest union Community, will boost average basic pay by about GBP 104 a month.

The 4% rise, to be backdated from April 1, is the first to be agreed with the Indian conglomerate since the GBP 6.2 billion TATA takeover 14 months ago and one of the fastest pay deals ever reached.

Corus agreed to increase a 3.25% offer, which was rejected by trade union negotiators last month. Other unions, including Amicus and the GMB, involved in the pay talks have decided to ballot their members over the deal.

Mr Mick Fell vice chairman of the Scunthorpe Works Multi Union Committee said that "I can confirm we were pleased to agree the deal. "Both parties were happy with it and we hope to work together to make the company a more successful business and one to be proud of in the future."

Mr Fell stressed that the 4% rise was a standalone agreement and was not linked to bonus consolidation.

Ms Rachel Cox a spokeswoman of Corus said that "We can confirm an agreement has been concluded." But she declined to discuss the details.

(Sourced from scunthrope.co.uk)