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Information Services Corp and SGEU Local 2214 ratify a new six-year labour agreement

The collective agreement includes annual wage increases effective October 1 of each year, as well as a 1.25% retroactive increase for 2020

ISC -
Information Services Corporation says it looks forward to continuing the company's ongoing partnership with SGEU

Information Services Corporation (TSE:ISV) announced that it has ratified a new six-year collective labour agreement with SGEU Local 2214 (SGEU) Saskatchewan, with respect to the company’s in-scope employees.  

The new agreement, which expires on September 30, 2025, includes annual wage increases effective October 1 of each year, consisting of 0% for 2019, 1.25% retroactive to 2020, 1.50% in 2021, 1.75% in 2022 and 2% in 2023 and 2024, respectively. 

“I would like to commend and congratulate both negotiating teams for finalising a new agreement through virtual meetings. This speaks to the deep understanding between ISC and SGEU, as well as the spirit under which these negotiations were undertaken,” Information Services Corp CEO Jeff Stuseks said in a statement. 

READ: Information Services Corporation says Paragon acquisition should be "immediately accretive"

He added: “As always, we look forward to continuing our ongoing partnership with SGEU.”

The company noted that the previous collective agreement expired on September 30, 2019.

Information Services Corporation provides registry and information management services for public data and records and is focused on sustaining the core registry business while pursuing new growth opportunities.

The Saskatchewan-based firm has a host of diversified, yet complementary revenue streams through its three business segments: Registry Operations, Services and Technology Solutions.

Under its registry segment, the group manages and operates the Saskatchewan Land Registry on behalf of the government of Saskatchewan under a 20-year deal.

Contact Sean at sean@proactiveinvestors.com

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Price: 21.7 CAD

TSX:ISV
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Market Cap: $379.75 m
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