Multi-national building materials giant, Cemex, is seeking a meeting with trade union representatives in an attempt to avert a strike at its Irish operation this week.

The dispute began earlier this year when trade union, Siptu, raised concerns about the group's decision to introduce a defined contribution pension scheme for workers who joined its Irish subsidiary, Readymix, after 2004.

Before that date, workers had defined benefit scheme, which gives a guaranteed return on retirement.

Defined contribution schemes mean that workers have to contribute a set amount without a guaranteed return.

Defined benefit means that the payout on retirement is guaranteed.

The union maintains that the change was a breach of the company's agreement with Siptu, and also says it was done unilaterally and without consultation.

The company says that it had to change its pension arrangements, and argues that the new scheme offers better value to workers than many comparable plans.

Following a secret ballot of members, who voted by more than 97 per cent in favour of industrial action, Siptu served 14 days' strike notice on the company on October 26th. This expires today, and Siptu's 160-plus members in the group can strike from this point on.

It was not clear last night if the workers intended striking today, but the union warned that it could take action any time after the notice expired.

It was not possible to contact a Siptu spokesman yesterday.

Cemex wrote last week to union representatives offering to meet for talks about what management described as "an alternative acceptable pension proposal" with the union.

At the time of going to press last night, no such talks had taken place, but it was understood the company was optimistic that the request would be met with a positive response from Siptu.

When it served strike notice, the union said it was available for talks with a view to resolving the dispute.

The company has also said it is committed to "an open dialogue" with its workers and their union representatives.

Headquartered in Mexico, Cemex owns a controlling stake in Readymix, which supplies cement and concrete products to the building industry.

Profits at Readymix grew by 50 per cent to top €19 million last year. The company hopes to benefit from the infrastructure spending planned by the Government over the next six years.