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S.Africa steel and engineering strike costs over $28 mln a day-employers
July 1, 2014 / 3:20 PM / 3 years ago

S.Africa steel and engineering strike costs over $28 mln a day-employers

JOHANNESBURG, July 1 (Reuters) - A wage strike by 220,000 South African steel and engineering workers which began on Tuesday will cost the economy more than 300 million rand ($28 million) or 0.014 percent of GDP a day, an employers body said.

The local chief executive of a major U.S. car manufacturer had indicated he was under pressure from his head office to close down South African operations and move to a country with a more stable labour environment, the Steel and Engineering Industries Federation of Southern Africa also said in a statement. ($1 = 10.6665 South African Rand) (Reporting by Stella Mapenzauswa; editing by David Dolan)

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