Coimbatore : Coimbatore District Pricol Workers Welfare Association, affiliated to AITUC, has signed a five-year wage agreement with the company.

Pricol, an auto component manufacturing major, had been witnessing labour problems for the last two years, following strike and also transfer of nearly 290 workers, belonging to AICCTU, which has majority in the 960 workforce.

Since nearly 350 workers joined AITUC, already having a strength of 300, the management entered into wage agreement with it, Tamil Nadu AITUC secretary M Arumugam told reporters here on Thursday.

The agreement would be for five years, with annual increase in DA, increment, bonus and other benefits, including profit share, he said.

The agreement was signed on the basis of strength of union and AITUC was always ready for a secret ballot to prove its majority, Arumugam added.