Cooper Tire & Rubber Co. and United Steelworkers Local 752L reached a tentative agreement on a new four-year labor contract shortly before the current contract was scheduled to expire.
Details of the agreement are being held pending presentation to the union's membership. The proposal will be presented to union members for ratification next week.
In a joint statement, Cooper and the union expressed their appreciation for the professionalism, hard work, and support of those participating in the negotiations.
"Both sides worked hard to reach a four-year agreement that both the plant and the community can be proud of," says David Boone, president of USW Local 752L. "Of all the negotiations I have been involved with, this one was conducted in the most professional manner.
"The local community should be proud of the negotiation teams that worked to keep good jobs in Texarkana. This plant is an integral part of the community, and it was important for all of us to work together to get this done."
Texarkana Plant Manager Scott Cole adds that the "thoughtful and constructive analysis that went into reaching this agreement will serve us well as we continue to work together to make Texarkana even better than it is today."