What s next? USW considers impact of pending Goodyear-Cooper Tire deal
Goodyear
It s unclear how Goodyear s purchase of Cooper Tire & Rubber Co. will impact unionized workers at both companies.
AKRON Goodyear s $2.5 billion deal to purchase Cooper Tire & Rubber Co. has the potential to impact thousands of union workers across both companies.
But how?
Right now, there are no clear answers.
The USW international office in Pittsburgh said it has been in contact with both Goodyear and Cooper, and that union voices will be heard throughout the process. Our contracts with Cooper and Goodyear provide security for our jobs, earnings and benefits with protections specifically addressing successorship in case of a change in owners, the USW said in a Feb. 23 email to
Goodyear to buy Cooper, joining two American tire companies
Updated February 22, 2021, 8:40 p.m.
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Goodyear to buy Cooper, joining two American tire companies
Two of the biggest remaining American tire companies are joining forces. Goodyear Tire & Rubber Co. is acquiring Cooper in a deal with an equity value of $2.8 billion that will combine the two century-old Ohio manufacturers. Cooper, founded in 1914, is the fifth largest tire maker in North America based on revenue. The company has about 10,000 employees in 15 countries. In addition to the Cooper brand, it also owns Mastercraft, Roadmaster, and Mickey Thompson. For Goodyear, the bigger company, the deal will nearly double its presence in China. Cooper will get access to Goodyearâs 2,500 retail locations. The companies had combined sales of $19.5 billion in 2019. By combining, the new company would save about $165 million within two years of closing and free up cash in tax savings. It will also bring an a
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