The United Steelworkers (USW) said that the union has reached a tentative agreement on a new, four-year master contract with Arconic (NYSE: ARNC) covering roughly 3,400 workers in Davenport, Iowa; Alcoa, Tenn.; Lafayette, Ind.; and Massena, N.Y.
USW District 11 Director Emil Ramirez, who chaired the negotiations, said the tentative agreement features substantial wage and benefit improvements for all Arconic employees.
“For their outstanding work throughout the pandemic and beyond, USW members have earned and deserve a fair agreement,” Ramirez said. “The unity and solidarity of our membership across all of the Arconic locations enabled us to negotiate improved security for our earnings, benefits and jobs in this contract.”
The USW said that the proposed new contract increases wages by 20 percent over its term, maintains the current health care coverage with no premium increases, improves pensions and includes the addition of Martin Luther King Jr. Day as a holiday.
Members of the USW committee will now return to their locals to discuss the terms of the proposed agreement with workers with the unanimous recommendation that it be ratified.