Alcoa Reaches Tentative Agreement With Union (AA)

Alcoa AA, the world's largest aluminum manufacturer, has reached a tentative agreement on a new contract with its largest union. This agreement will help avoid a possible strike that would have affected thousands of workers. Details of the four-year agreement between Alcoa and the Steelworkers Union were not immediately available. The contract must still be ratified by the union members in 10 states over the next few weeks. Union officials said they would not discuss specifics of the new agreement until they meet with union members. The last time the steelworkers union went on strike against Alcoa was in 1986. Shares of Alcoa are down 19 cents, or 1.63%, to $11.45 today.