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USW AND ABGWIU RATIFY CONTRACT EXTENSION

 USW AND ABGWIU RATIFY CONTRACT EXTENSION
 PITTSBURGH, May 7 /PRNewswire/ -- Members of the United


Steelworkers of America (USW) and the Aluminum, Brick and Glass Workers International Union (ABGWIU) voted overwhelmingly to ratify a one-year extension of labor agreements with Alcoa (NYSE: AA) and Reynolds Metals Company (NYSE: RLM) that expire May 31, 1992.
 The two unions represent more than 11,000 members at 11 Alcoa plants and more than 7,300 at 20 Reynolds Metals plants.
 In a joint announcement the unions and companies said:
 "The extension is a cooperative step to assure that supplies to customers will not be interrupted and to demonstrate to our customers and employees a commitment to negotiate a reasonable settlement by Oct. 2. The extension gives added time for further analysis and understanding of escalating health care costs, variable compensation, lifetime employment security and an opportunity for employee education on these critical issues."
 The provisions of the extension agreement are a cash signing bonus of $1,000 for each employee, payable immediately; an increase of $2.00 for each year of service in the factor used to calculate monthly pension amounts for retirements on June 1, 1992, or later; and an additional cash payment of $500 if new agreements are reached by Oct. 2, 1992.
 To facilitate meeting the Oct. 2 date for a new agreement, the unions and the companies have established top level joint committees that are to meet continually and complete their reports by Aug. 31.
 -0- 5/7/92
 /CONTACT: G. Hubbard of the USW, 412-562-2442; John J. Murphy of the ABGWIU, 314-739-6142; A.T. Posti of Alcoa, 412-553-4465; or Andrew M. Lybrook of Reynolds Metals, 804-281-3262/
 (AA RLM) CO: United Steelworkers of America; Aluminum, Brick and
 Glass Workers International Union; Alcoa; Reynolds Metals Company ST: Pennsylvania, Virginia IN: MNG SU: CON


DM -- PG013 -- 7705 05/07/92 14:06 EDT
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Publication:PR Newswire
Date:May 7, 1992
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