The management of Schwing Stetter, the wholly-owned subsidiary of Germany’s Schwing Group, and the Schwing Stetter Employees Union have clinched a fresh wage revision agreement.
The 12 (3) tripartite wage agreement was signed on 28 August 2025.
It is a four-year agreement. It comes into effect from April 1, 2025.
Veteran trade union leader S. Paramasivam signed the pact on behalf of the union.
The tripartite wage agreement involved the management, the union and the deputy labour commissioner.
Schwing Stetter is one of the country’s leading concreting equipment manufacturers.
Expressing happiness over the signing of the agreement, Paramasivam said that new wage revision pact should benefit workers across the canvas.
The pact comprises wage rise to the extent of around Rs. 8000 per employee annually and also other direct and indirect welfare benefits. He claimed that the wage revision pact Schwing Stetter was the best in that industrial belt. “I am always concerned about the welfare aspects,” he added.