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Alcoa and UAW Local 1050 Reach Labor Agreement CLEVELAND--(BUSINESS WIRE)--Alcoa (NYSE:AA) announced today that UAW Local 1050 has ratified a new
4-year labor agreement that covers approximately 830 employees at Alcoa’s
Cleveland Works facility. UAW represented employees will return to work
January 2, 2007 following an 8-week strike. Salaried workers had been
running the plant since the strike began November 6th.
The new agreement addresses key issues identified by both sides during
negotiations, which began September 1. The new contract creates a
Improves the competitiveness of Alcoa Cleveland Works;
Preserves the standard of living for employees through a competitive
wage and benefits package;
Introduction of new medical and prescription drug plans, which include
employee cost sharing;
Continues to provide health care coverage for retirees and limits the
company’s long-term liability;
Calls for annual wage increases and introduces a company match to the
Alcoa 401(k) Savings Plan;
Initiates a new attendance policy and limits overtime scheduling.
“Compromises were made by both Alcoa and UAW
Local 1050 that have resulted in a fair and competitive multi-year labor
agreement. We are very pleased to have a contract that will help make
Cleveland Works more globally competitive and secure jobs here in
Cleveland,” said Brett McBrayer, Cleveland
Works Plant Manager.
About Alcoa Cleveland Works Alcoa’s
Cleveland Works facility manufactures forged aluminum wheels for the
heavy-duty truck and automotive markets, and forged products for the
aerospace and industrial markets. Approximately 1,250 people support the
Cleveland operations, which straddles Cuyahoga Heights and Newburgh
Heights on Harvard Avenue. Established in 1917, Cleveland Works has a
rich history in Cleveland supporting multiple generations. The company
contributes approximately $249 million to the Cleveland community in
payroll, goods and services, and taxes.
About Alcoa Inc.
Alcoa is the world's leading producer and manager of primary aluminum,
fabricated aluminum and alumina facilities, and is active in all major
aspects of the industry. Alcoa serves the aerospace, automotive,
packaging, building and construction, commercial transportation and
industrial markets, bringing design, engineering, production and other
capabilities of Alcoa's businesses to customers. In addition to aluminum
products and components, Alcoa also markets consumer brands including
Reynolds Wrap(R) foils and plastic wraps, Alcoa(R) wheels, and Baco(R)
household wraps. The company has 129,000 employees in 44 countries.