Gloria Group will pay profits to Ecudos’ workers

The group that owns most of the shares of the sugar mill Ecudos have resolved to deposit $ 1.8 million in the Ministry of Labor, for the payment of profits, from the 2004 – 2008 period, for the workers.

Ricardo Noboa Bejarano, Gloria Group’s legal representative, said that the payment of profits will be charged to the bills that have to be paid by the Ecuadorian State, thus, they expect that the Government, through the Unit of Management and Implementation of Public Law (Ugedep) AGD-CFN Trust “No More Impunity”, to accept the charge of that payment.

Noboa said that the Gloria Group has a contract to purchase or sell  Ecudos, signed on October 4, 2011. In the contract there is a clause that specifies that any existing commitment before 2011 is responsibility of the seller (in this case, the state).

“We want those profits to be charged tomorrow into the suspense accounts that we have with the government. That’s all we want, that there is a clear recognition that if we pay these profits, these values are going to be charged into the accounts. The President was clear in saturday in saying that we must pay but he also said there is a contract in between, “said Noboa.

He made it clear that the payment will be deposited troughout this week as long as the president commits to letting the value be charged into government accounts.

Ecudos sugar factory