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April 19, 2009

Alcoa Announces Ratified Contract Extension with UAW Local 1050

CLEVELAND--Alcoa (AA) announced today that members of the United Auto Workers Local 1050 at the company’s Cleveland Works facility have ratified a two-year extension of their current labor agreement with the Company.

Alcoa sought a contract extension as a key component of its efforts to secure funding to rebuild its 50,000-ton press, located at the Cleveland plant. The plant was forced to idle the press in September 2008 when it suffered catastrophic cracking in its lower base castings. An investment of nearly $70 million is necessary to refurbish the press before safely returning it to service and that investment would be predicated on a stable work environment.

“This is a great collaborative day for Cleveland Works,” said Gena Lovett, plant manager, Cleveland. “This new agreement reflects a spirit of flexibility and the desire among our local union leaders, union members and Alcoa’s management team for a successful outcome to refurbish our 50,000-ton press, which is so critical to the long-term stability of this plant and the security of our jobs.”

The company has been working closely and communicating regularly with customers, state and local officials and employees about plans to refurbish the press during a time of constrained capital funding. Today’s successful vote to ratify the extension is contingent upon obtaining funding to rebuild the press. Alcoa hopes to have a comprehensive funding plan in place in the near future. Alcoa’s 50,000-ton press produces large forgings for commercial and military aerospace applications. Since September, Alcoa has been able to meet customer requirements using a 35,000-ton press also located at the Cleveland plant.