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Venezuelan aluminum company Alcasa handed in to the country's labor board a collective contract with its workers, which will enter into force once approved, official news agency Venpres reported.
The contract deals with the working conditions for 2,300 employees. The deal reportedly allows for space for employees to work in conjunction with management so as to improve the company's operations and aluminum sector's recovery.
The smelter, in the Matanzas industrial park of Puerto Ordaz city in eastern Venezuela, is 92% owned by state heavy industry holding company CVG and 8% by US aluminum maker Alcoa (NYSE: AA).