USW Comments on Proposed Alcoa Split

The United Steelworkers (USW) today commented on the announcement by Alcoa that it will separate into two independent, publicly-traded companies: an upstream company and a value-add company.United Steelworkers (USW)"Alcoa has notified the USW of its plan to separate into two businesses. The USW is studying the company's announcement and expects to meet with management in the near future to discuss the details of the plan. The existing labor and benefit agreements remain intact and in force," said Leo W. Gerard, USW International President. "The split into two companies and how assets and liabilities are allocated is of great interest to USW members employed at Alcoa, Alcoa retirees and their communities," said Tom Conway, USW International Vice President and chair of the union's Alcoa bargaining committee. "The union will be monitoring these developments and work to protect the employment security of active Alcoa employees, and retirement and health care benefits of retired employees."The master agreement between Alcoa and the USW covers approximately 6,000 employees at 12 locations, which produce alumina, primary aluminum, rolled products and aerospace extrusions. The agreement expires May 15, 2019. The USW also represents over 2,900 employees at nine locations in the United States and Canada which have separate labor agreements. In June 2015, the USW successfully organized the 460 employees at the Alcoa Howmet plant in Hampton, Va.The USW is the largest industrial union in North America, representing workers in a range of industries including metals, mining, rubber, paper and forestry, oil refining, health care, security, hotels, and municipal governments.