The Board of Investment (BoI) company Everest Industrial (Pvt.) Ltd, which has been going through a labour dispute, will resume operations today following the signing of a new agreement with its trade union.

“Three employees were laid off as a disciplinary action but now it has been resolved,” a BoI official said.

The company employs around 450 employees in its manufacturing of cold storage equipment, which is supplied to some of the world’s largest companies including Coca-Cola and KFC, as well as dairy companies in the Middle East.

The trade union leader had been among the three who were disciplined and the employees had said that the charges were false.

A source told Mirror Business that the company had orchestrated the situation to use as an excuse to request permission from the BoI to withdraw its US $ 50 million from the country, as the parent company based in Dubai had opened a new factory in home soil.

However, the BoI officials denied the claim.

“There have been some rumours going around. That’s not true. Everything has been resolved.”