The drafting of a new collective bargaining agreement was initiated by company's management. It took three months to complete. During that period members of the bargaining commission convened 12 times.

The draft of the new collective bargaining agreement was discussed with laborers of all large subdivisions of the company and on June 24, at a conference of company's employees, the new collective bargaining agreement for 2004-2006 was executed. On behalf of the employer it was signed by M. P. Bakshinsky and on behalf of employees - by R. G. Matyushenko, Chairman of the company's trade union organization.

Confirming the social focus of OAO "Uralkali's" policy the newly-signed collective bargaining agreement preserves basic benefits and guarantees for company's laborers. The total "cost" of the new collective bargaining agreement is 304 million rubles which exceeds that of the previous agreement by 24 million rubles. The value of each laborer's social package is 38 thousand rubles.

"The fact that the economic value of the new collective bargaining agreement is greater than that of the previous package is definitely a positive moment. It is a step forward", - emphasized Chairman of the Perm regional committee of the Russian trade union of chemical industry workers, Alexey Klein.

At the conference ?. V. Klein presented "Uralkali" laborers with a Diploma for the largest growth of labor productivity and the best social indicators in the industry based on performance results of 2003 and awarded under an industry-wide annual competition. Company's Director General, M. P. Bakshinsky, and Chairman of company's trade union organization, R. G. Matyushenko, were awarded with honor certificates of the Russian trade union of chemical industry workers.

"We intend to considerably increase production output in 2004. Alongside significant production investments we have also increased the funding of social programs, - noted "Uralkali's" Director General, Maxim Bakshinsky. - Social benefits are an additional incentive for employees to work better."

In 2003, the company adopted a new remuneration system that is designed to individualize remuneration of each employee. This year the company is holding a competition, "Workers' Millions", whose winners - mine brigades and collectives of technology shifts of ore-dressing factories - will receive bonuses ranging from 200 thousand to 600 thousand rubles. A provision on annual bonuses has been developed in order to motivate workers to raise their productivity. The annual bonus fund exceeds the cumulative value of quarterly bonuses paid in accordance with the previous collective bargaining agreement by a factor of 1.5.