Goodyear-Cooper Deal: Steelworkers Union Reacts to Announcement
“The USW has been in contact with management at both companies and will ensure that union members' voices will be heard throughout the process,” a spokesperson from the United Steelworkers union told MTD in reference to Goodyear Tire & Rubber Co.'s pending acquisition of Cooper Tire & Rubber Co.
“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. We look forward to facing the challenges ahead and continuing the tradition of quality tire building in all of our communities.”
According to MTD research, the USW represents workers at three of Goodyear’s U.S.-based tire manufacturing plants - Fayetteville, N.C.; Topeka, Kan.; and Danville, Va. It also represents workers at two of Cooper’s three U.S.-based plants: Findlay, Ohio, and Texarkana, Ark.
On Feb. 22, Goodyear and Cooper announced they had entered an agreement that will see Goodyear acquire Cooper for $2.5 billion in a deal that is expected to close during the second half of 2021.
When completed, the acquisition will give Goodyear three more plants in the U.S. and will add an extra 97,000 units of consumer tire manufacturing capacity to what the Akron, Ohio-based company already enjoys. (Click here for an in-depth look at both tiremakers’ U.S. manufacturing plants and their respective capacities.)