Union Submits Counter-Offer in Bid to End Lockout at Alcoa Quebec Smelter
22 March 2019 - 4:08AM
Dow Jones News
By Colin Kellaher
The United Steelworkers union on Thursday said it has made a
counterproposal in a bid to end the more than year-old lockout at
an Alcoa Corp. (AA) smelter in Canada.
The union said it hopes the proposal will lead to talks to
settle the 14-month lockout of more than 1,000 employees at the
Aluminerie de Becancour Inc. smelter in Quebec.
An Alcoa spokesman said the company will review the
proposal.
Union members earlier this month voted overwhelmingly to reject
ABI's most recent offer.
The union said its counterproposal includes a member-funded
pension plan, which it termed a "huge concession" on what has been
a major sticking point in the lockout. The proposed funding model
moves away from a defined benefit plan, where risk is assumed by
the employer.
Alcoa owns 75% of ABI, while Rio Tinto PLC (RIO) owns the
remaining 25%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 21, 2019 12:53 ET (16:53 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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