PITTSBURGH - Members of the United Steelworkers union have ratified a new labor agreement with Pennsylvania-based Alcoa Corp. (NYSE: AA). The four-year deal covers some 1,700 active employees in the U.S., the majority of whom are employed at the company's Warrick Operations in southwest Indiana.

The ratification comes less than a month after the two sides reached a tentative agreement. The new contract includes annual wage increases of more than 12 percent over the four-year period. The union says the deal also "maintains high-quality, affordable health care coverage."

"This is a challenging time for these workers, with unfair trade and declining prices taking their toll on the U.S. aluminum industry," USW International President Thomas Conway said in a news release. "Thanks to their strength and solidarity, they were able to achieve a fair agreement, one that makes sure they can continue to care for their families and also positions the company for future success."

In addition to the Warrick location, the contract also covers employees at Alcoa's facilities in New York, Arkansas, Washington, and Texas.

"We appreciate the contributions from our union employees at each of these locations," Leigh Ann Fisher, chief administrative officer of Alcoa, said in a news release. "We are pleased to have in place an agreement that will position our Company and employees for future success."

Editor's Note: A previous version of this story referred to the union as UAW.