Piraeus, April 10th 2020
PPA reply to OMYLE and the Unions regarding the agreement for the provision of project management services for the operation of Pier I between PPA S.A. and PCT S.A.
The Management of PPA S.A., following the Press Release of OMYLE and the PPA Unions dated 6/4/2020, which we read with surprise, would like to inform about the following:
a) PPA S.A. signed an agreement for the provision of project management services with PCT S.A. which had been notified to the Greek Authorities (GEMI 23639 / 27-02-2020 and 31153 / 18-03-2020) and uploaded on the website of the Athens Stock Exchange and the PPA. This agreement was approved by the Board of Directors of PPA S.A. before it was announced, following the recommendation of the Administration Board.
b) The benefits of PPA S.A. from this agreement will be significant as it ensures the increase of cargo that will be handled at the Pier I by more than 30% annually compared to 2019 and this will be for the benefit of our staff too. It is easily understandable that this percentage is particularly high, bearing in mind the crisis in the trade worldwide caused by COVID-19 as well as the decline in the Cruise sector, coastal shipping and RORO.
c) Our Company, through the Deputy CEO and responsible for the Labor Dept. and the Manager of Administration & HR informed the Unions’ representatives on 6/3/2020, for the proposed Pier I Piraeus Container Terminal Organizational structure, while explaining the benefits of PPA S.A. from this agreement. The Pier I Piraeus Container Terminal Organizational structure which was presented to the Unions’ representatives is the same as the one circulated on 1st of April 2020, the day when the agreement between PPA S.A. and PCT S.A. was officially put into effect.
Therefore, the Company has fully fulfilled its obligations according to the PPA S.A. General Staff Regulation (article 11.e).
Finally, we have made clear to the Unions’ representatives through the Management representatives and we make it clear again, that this agreement does not involve any change in the employment status of the PPA S.A. employees.