Pretoria - Transnet and labour have reached an 8.5 percent across the board wage settlement.
The parastatal and its two recognised unions - the South African Transport and Allied Workers Union (Satawu) and United Transport and Allied Trade Union (Utatu) - finalised the terms of agreement at the Transnet Bargaining Council on Wednesday.
Transnet group chief executive, Brian Molefe, described the agreement as a milestone that will go a long way in strengthening relations with employees.
"Crucially, this settlement will enable us to focus on achieving our operational goals for the year. It's also encouraging that this was done with no disruption to our operations, a positive sign for our relationship," he said on Thursday.
Satawu general secretary Zenzo Mahlangu said the union was happy with the agreement.
"We are quite impressed that although there were issues, there was also a high level of maturity on both sides. That we were able to agree on terms without resorting to drastic measures shows that we are heading in the right direction and that we are growing."
Utatu president George Strauss said the settlement, given the financial circumstances, was good for members.
"We believe that it will have a positive impact on staff morale as it betters our working conditions and I am sure that our members will respond positively," said Strauss.
"We would like to thank all our colleagues and members of our recognized trade unions for the leadership they have shown and their hard work in ensuring that we have reached an amicable settlement in a mutually respectful manner," said Molefe.
