Steelworkers Endorse New Agreement with Kaiser Aluminum

Five-year extension of current contract, expands VEBA profit-sharing contribution

Kaiser Aluminum Corp. reports that union employees at its Newark, OH, and Spokane, WA, plants have ratified a new five-year labor agreement. The company states that the new contract extends the wages and benefits of its current contract due to expire this year, carrying them through September 30, 2015. About 800 workers are covered.

The Newark plant produces aluminum extrusions, rod, and billets. The Trentwood (Spokane), WA, plant is Kaiser’s primary rolling operation for sheet and plate products. Nine other Kaiser plants in the U.S. and Canada produce a range of hard- and soft-alloy extrusions, tubular products, and forgings.

Kaiser added that the new agreement also extends the potential profit-sharing contribution for the Union VEBA through September 30, 2017. The VEBA — or voluntary employee beneficiary association — is administered by four trustees and the assets are managed by an independent fiduciary.

In addition, the said the new labor agreement extends the term of the Director Designation Agreement that allows the union to nominate candidates that, if elected, would comprise up to 40% of the Kaiser Aluminum Corp. board of directors.

“Kaiser Aluminum values the contribution of our Trentwood and Newark employees to the Company's success as a leading manufacturer of semi-fabricated specialty aluminum products, allowing us to meet demanding customer requirements for product quality and consistency and to achieve a reputation for 'Best in Class' customer satisfaction,” said Jack A. Hockema, President, Chief Executive Officer and Chairman of Kaiser Aluminum. “We look forward to maintaining our long-term relationship with the United Steelworkers as we continue to be a supplier of choice for our customers in the aerospace and defense, automotive and general industrial market.”

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