Alcoa announced it has agreed to purchase privately held Traco, a premier maker of windows and doors for the commercial building and construction market. Traco will become part of Alcoa’s global Building and Construction Systems business. Traco, founded in 1943 as the Three Rivers Aluminum Company, offers a full range of window and door manufacturing and services, including engineering, extrusion, finishing and electrostatic painting, glass insulation and tempering, and glass lamination. The company employs 650 people at its headquarters and manufacturing operation in Cranberry, Pa. The transaction is expected to be completed by the end of the third quarter 2010.
Members of Alcoa’s largest union have ratified a new four-year contract that will pay them more money but will raise health-care policy premiums. The Steelworkers Union and Alcoa said that the agreement was approved, covering at least 5,400 employees at 10 locations across the U.S. The agreement was tentatively approved June 1 after about six weeks of negotiations and will expire in May 2014. Alcoa has about 59,000 employees in 31 countries.