AKRON, Ohio, Oct. 5 /PRNewswire-FirstCall/ -- The Goodyear Tire &
Rubber Company (NYSE: GT) today said that the United Steelworkers declared
a strike against the company after the union rejected a comprehensive
proposal from Goodyear that would improve its competitive position while
maintaining substantial commitment to manufacturing in North America.
Negotiations stalled after the union's proposals to Goodyear did not
include key items found in their agreements with competitors.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050204/GTLOGO)
"We simply cannot accept a contract that knowingly creates a
competitive disadvantage vs. our foreign-owned competition and increases
our cost disadvantage vs. imports," said Jim Allen, Goodyear's chief
negotiator.
Goodyear's final offer to the union delivered this morning included
provisions for job security and significant investments for USW represented
plants going forward, a company-funded plan to secure retiree medical
benefits and restoration of prior pension service credit.
The strike involves 12 U.S. plants covered under the master labor
agreement and four additional facilities in Canada.
"We remain willing to continue to bargain with the Steelworkers," said
Allen. "In the meantime we have implemented our strike contingency plans at
the affected facilities and are working to minimize impact on our
customers."
USW workers at the following Goodyear plants are on strike:
North American Tire
Akron, Ohio; Buffalo, N.Y.; Danville, Va.; Fayetteville, N.C.;
Gadsden, Ala.; Topeka, Kan.; Tyler, Texas; Union City, Tenn.
Engineered Products
Lincoln, Neb.; Marysville, Ohio; St. Marys, Ohio; Sun Prairie, Wis.
Canada
Collingwood, Ontario; Owen Sound, Ontario; Toronto Logistics Center;
Toronto Commercial/Retread
Certain information contained in this press release may constitute
forward-looking statements for purposes of the safe harbor provisions of
The Private Securities Litigation Reform Act of 1995. Actual results may
differ materially from those indicated by such forward-looking statements
as a result of various factors, including the duration of the strike by the
United Steelworkers (USW), the ability of the company and the USW to reach
agreement on the terms of a master collective bargaining agreement as well
as the ratification of any such agreement by the members of the USW, and
any further actions that may be taken by the company or the USW in the
event that no such agreement is reached. There are a variety of additional
factors, many of which are beyond the company's control, which affect its
operations, performance, business strategy and results and could cause its
actual results and experience to differ materially from the expectations
and objectives expressed in any forward-looking statements. These factors
include, but are not limited to, actions and initiatives taken by both
current and potential competitors, increases in the prices paid for raw
materials and energy, the company's ability to realize anticipated savings
and operational benefits from its cost reduction initiatives, potential
adverse consequences of litigation involving the company, pension plan
funding obligations as well as the effects of more general factors such as
changes in general market or economic conditions or in legislation,
regulation or public policy. Additional factors are discussed in the
company's filings with the Securities and Exchange Commission, including
the company's annual reports on Form 10-K, quarterly reports on Form 10-Q
and current reports on Form 8-K. In addition, any forward-looking
statements represent our estimates only as of today and should not be
relied upon as representing our estimates as of any subsequent date. While
we may elect to update forward-looking statements at some point in the
future, we specifically disclaim any obligation to do so, even if our
estimates change.
SOURCE The Goodyear Tire & Rubber Company
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Related links:
http://www.goodyear.com/
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20050204/GTLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Media, Ed Markey, +1-330-796-8801, or
Analysts, Melody Hart, +1-330-796-8622, of The Goodyear Tire &
Rubber Company
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