Alcoa reports that members of the United Auto Workers Local 1050 ratified a two-year extension of their current labor agreement with Alcoa’s Cleveland Works. The extension was sought by Alcoa as part of its efforts to finance the rebuilding of its 50,000-ton press at the Ohio-based plant, which had to idle the press last September when cracks in its base were discovered. Until it went down, the press produced large forgings for the commercial and military aerospace markets. Alcoa said an investment of about $70 million is necessary to refurbish the press and return it to service. The contract extension will ensure that Alcoa’s investment would be predicated on what it termed “a stable work environment.”

“This new agreement reflects a spirit of flexibility and the desire among our local union leaders, union members and Alcoa’s management team for a successful outcome to refurbish our 50,000-ton press, which is so critical to the long-term stability of this plant and the security of our jobs,” said Gena Lovett, Alcoa’s Cleveland Works plant manager.