PITTSBURGH — Aluminum Co. of America said it will take a fourth-quarter pretax charge of about $50 million because of retroactive profit sharing and bonus provisions contained in new contracts reached with three of its unions.
Alcoa said new 43-month labor agreements have been ratified by its major unions, covering about 15,000 employees at 14 plants. The unions are the United Steelworkers of America, the Aluminum, Brick & Glass Workers International Union and the United Automobile & Aerospace Workers.
