Alcoa workers ratify new four-year pact

PITTSBURGH, June 23 (UPI) -- United Steelworkers have approved a four-year pact with Alcoa Inc. that covers about 9,000 workers in 15 U.S. locations.

"This new agreement improves the competitiveness of these locations, and is a good outcome for our employees, the company, the communities in which we operate and for our customers," Alain Belda, Alcoa's chief executive, said Friday.

Alcoa will incur second quarter 2006 charges of approximately $0.04 per share associated with the ratification of the contract and costs related to the preparation for a potential work stoppage at the 15 master agreement plants.