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Goodyear Gets Buyout Deal in Akron

USW workers at Goodyear Tire & Rubber Co.’s race tyre plant in Akron have accepted a buyout scheme. The company has offered buyouts to 120 workers at the plant, about 30 per cent of total employment there, citing reduced demand due to cutbacks made in various race series. USW Local 2, which covers some 440 employees in Akron, passed the offer “overwhelmingly,” according to reports. The deal also preserves some 250 jobs through 2012 at Goodyear’s tech center in the city.

However, the agreement allows Goodyear to move rubber mixing from Akron to its Dunlop plant in Buffalo within the next two years. The one-time buyout offer covers the first 120 employees who elect to take it, and gives $2,000 per year of service up to a maximum of $40,000. If fewer than 120 employees take the offer, Goodyear will have the right to layoff workers to reach that level. (Tire Review/Akron)

10th June 2009/by Tyrepress Editors

Conti Outlines Clairoix Redundancy Package

The deal for Continental’s Clairoix workers first made public by the French CGT union in late May has been officially confirmed. Conti reports that an agreement between its French and German management and trade union and French government representatives was reached on June 6. Upon announcing this agreement, Continental’s Dr. Thomas Winkelmann declared “we are pleased that we have already come up with a solution before the end of the four-week negotiation phase.”

An understanding, as Conti noted in a press statement, was not reached without difficulties. According to the German company, French union representatives “impeded the entire negotiations by rigidly focusing on negotiating the highest possible uniform one-off severance payment” for all affected employees. “The one-off payment of 50,000 euros for each employee is now a component of the overall solution – not more, but also not less, commented Winkelmann.

9th June 2009/by Tyrepress Editors

Russian Court Receives Amtel-Vredestein Insolvency Application

Official confirmation has been given that, on June 3, OJSC Amtel-Vredestein – the Russian operating unit of Amtel-Vredestein NV – filed for insolvency with the Moscow Arbitration Court. The company states this was carried out in accordance with the requirements of Russian federal law number 127, and Amtel-Vredestein has requested the granting of a monitoring period in line with article 62 of the abovementioned insolvency law.

Upon formally announcing the filing for insolvency, the tyre manufacturer stated that “given the deteriorating position of the company and increasing number of creditors’ claims to repay debt or foreclose on the company’s mortgaged assets, this action is necessary and unavoidable.” Established court procedure, added Amtel-Vredestein, will see the appointment of an administrator who will run the monitoring procedure for the company.

8th June 2009/by Tyrepress Editors

US and Italian Tyre Retreaders to Cooperate

The Associazione Italiana Ricostruttori Pneumatici (known to its friends as AIRP) and the Tire Retread and Repair Information Bureau (TRIB, to you) have signed a Memorandum of Understanding to cooperate with each other for the mutual benefit of the retread and tyre repairing industries. The agreement extends to activities both within Italy and many other countries worldwide.

The memorandum sets out plans for the two organisations to exchange market and technical information; to assist visits of delegations; to collaborate on exhibitions and conferences; to waive publisher restrictions on each board’s research articles; and to strengthen the ties between the respective boards’ members. The agreement was signed on 21 May, 2009 in Bologna, Italy by AIRP president Stefano Carloni and TRIB MD Harvey Brodsky. “Having known our friends at AIRP for many years and having admired their ongoing dedication to improving our industry, we are very happy to join with them for our mutual benefit,” concluded the latter.

8th June 2009/by Tyrepress Editors

Goodyear Headquarters Moving Forward

Moving forward on plans for its new world headquarters, Goodyear has sold some of its Akron properties to Industrial Realty Group (IRG).

In turn, Goodyear signed a multi-year lease agreement with IRG and, as part of that agreement, will remain in its existing buildings until its new headquarters located adjacent to the company’s Akron Technical Center is completed. In connection with the sales, Goodyear will record a non-cash, after-tax charge of between $40 million and $45 million in the second quarter of 2009. (Tire Review/Akron)

1st June 2009/by Tyrepress Editors

Property Sales a “First Step” Towards New Goodyear HQ

A number of properties belonging to Goodyear Tire & Rubber in its hometown of Akron Ohio have been sold to Industrial Realty Group (IRG). These sales, comments Goodyear, represent a first step toward finalising plans for developing a new headquarters in Akron. The tyre major has signed a multi-year lease agreement with IRG and, as part of this agreement, will remain in its existing buildings until its new headquarters located adjacent to the company’s Akron Technical Center is completed.

1st June 2009/by Tyrepress Editors

Payouts for Conti Clairoix Workers Agreed Upon

The union representing workers at Continental’s factory in Clairoix, France announced on May 31 that Conti management had agreed upon a minimum 50,000 euro per person payout in compensation for the facility’s closure. The company had originally offered a 17,000 euro compensation package, which the workers refused.

On May 29 Continental management offered the company’s 1,120 workers in France a pay-off starting at 50,000 euros, extending up to 100,000 euros for those working for the company for more than 30 years. Employees will receive their normal salary until October and 85 per cent of their pay until 2011 and an unemployment benefit equalling 75 per cent of their salary until 2014.

1st June 2009/by Tyrepress Editors

Love Still Growing After a Year, Reports Michelin

In May 2008 Love’s Travel Stops, a company ranked by Forbes Magazine as one of the top 25 largest privately held companies in the US, began a cooperative agreement with Michelin Americas Truck Tires. A year down the line Michelin has announced that Love’s outlet in Memphis Tennessee has become the 25th truck tyre care service location it has opened since the agreement was signed.

27th May 2009/by Tyrepress Editors

Unrest Continues Despite Lifting of MRF Lockout

The lockout at MRF Ltd’s Arakkonam factory in southeast India has been lifted – but many employees are refusing to return to work. An announcement from management regarding an end to the ten-day-old lockout was made on May 27, yet the company’s dispute with the MRF United Workers Union (MUWU), which declared a strike at the Arakkonam plant on May 9, remains an unresolved issue.

India’s Business Standard newspaper discloses that a number of MRF workers plan to file a Supreme Court petition against the company’s management. MUWU honorary president V. Prakash told the paper “we don’t have a choice but to file a petition in [the] Supreme Court” following recent failed talks. “The main plea would be to recognise the union,” he explained.

27th May 2009/by Tyrepress Editors

Freightliner Extends Bandvulc Contract

Freightliner, the UK’s largest haulier of maritime containers has extended its commercial tyre agreement with Bandvulc Tyre Contracts. Freightliner operates a fleet of over 300 road vehicles, for final delivery and collection of containers from customer’s premises. Using Bandvulc retreads across all of its drive and trailer axles, the agreement sees Bandvulc collecting and managing all of their tyres and disposing of them within environmental guidelines.

Richard Branston, general manager Road and Port Operations for Freightliner comments; “Bandvulc has been involved with Freightliner for over 10 years and the processes we have developed in conjunction with BTC have helped us control and manage our tyre policy effectively and recent developments have seen us extend this relationship further. The management and control of a nationwide operation required a comprehensive set of partners to work with and BTC’s network enabled service delivery 24/7/365 in all areas of the UK.”

27th May 2009/by Tyrepress Editors

MRF Strikers Plan New Protest Strategies

Striking workers at tyre MRF’s Arakonam and Puducherry plants in India are considering surrendering their important ration and voter identify cards in protest against a wage agreement signed with a rival labour union. The worker’s sit-in strike began on May 9 and led to a lockout being declared at the Arakonam site on May 17. Production at both locations has come to a complete halt as a result of the industrial action.

20th May 2009/by Tyrepress Editors

Hayes Lemmerz Files Chapter 11 Again

Yesterday afternoon Hayes Lemmerz, the world’s largest wheel manufacturer, filed for so-called Chapter 11 bankruptcy protection for the second time this decade. The company was last in this position between November 2001 to June 2003 when it formulated a strategy of focusing on core business, namely steel and aluminium car wheels and truck steels wheels. Now having sold virtually all the areas that don’t fit into these categories, Hayes Lemmerz has collapsed under the heavy burden of debts. The news follows an earlier announcement that Hayes had received a written warning that it faces listing compliance issues for filling full-year 2008 results too late.

In a statement Hayes Lemmerz International, Inc. said the majority of lenders holding the company’s secured debt have reached an agreement regarding restructuring. Some will provide a debtor-in-possession loan to the company, which will make available up to $100 million of additional liquidity, to enable it to continue operating during the restructuring period.

13th May 2009/by Tyrepress Editors

Dr. Klaus Mühlbäck Leaves Rösler Group

Rösler Group and sales and marketing vice president, Dr. Klaus Mühlbäck (35), went their separate ways in April. Mühlbäck had been with the Dortmund-based company since 1 March 2006 where he was responsible for acquiring potential new international Schelkmann licensees. Speaking to Tyres & Accessories’ German sister magazine, Neue Reifenzeitung, Paul Rösler senior stressed that the move was “a separation by mutual agreement.” Dr. Klaus Mühlbäck, had until recently been studying for his doctorate at the University of Bratislava in Slovakia in the field of economics. Here he gained his doctorate with a thesis on the internationalization of small and medium-sized businesses. Now T&A understands that he will continue his career in teaching, although there aren’t yet any official details of where this will take place or in what capacity. Rösler group has not yet been decided on a successor for the vice president of sales and marketing.

11th May 2009/by Tyrepress Editors

National Motor Museum to Host ‘World of Top Gear’ Exhibit

BBC Worldwide and the National Motor Museum have announced plans for a major new exhibition at Beaulieu. The new ‘World of Top Gear’ exhibition will reportedly be centred around the internationally famous Top Gear television programme. This unique agreement between the National Motor Museum and BBC Worldwide will enable visitors to experience first-hand the unrivalled atmosphere, drama and humour of the World’s Greatest Car TV Show.

The exhibition aims to recreate the feel of the famous Top Gear Hanger and will showcase some of its iconic features, in a special display area at the National Motor Museum, Beaulieu, set in the heart of the New Forest.

7th May 2009/by Tyrepress Editors

Shareholders Recommend Amtel-Vredestein OJSC Bankruptcy

On Friday 24 April Amtel-Vredestein OJSC’s shareholders recommended that managers enter the Russian part of the wider Amtel-Vredestein company into bankruptcy proceedings. At this stage the proposal remains a suggestion and it is expected to be weeks before the company makes a final decision on whether or not to enter bankruptcy protection. Tyres & Accessories contacted various Amtel-Vredestein OJSC company representatives, but none were willing to comment on the likelihood of Amtel-Vredestein OJSC declaring bankruptcy or what the effects would be on the company.

Were Amtel-Vredestein OJSC to enter bankruptcy, article 106 (2) of the Russian Federation Federal Law on Insolvency sets out a clear order of priority for creditors’ claims: According to Craig Averch, European Bank for Reconstruction and Development claims of citizens to whom the debtor is liable for harm to life or health shall be satisfied first; followed by settlements for the payment of “severance pay and wages with persons working under a labour agreement, including under contract, and for the payment of royalties under copyright agreements.” Third, creditors’ claims for obligations secured against property are to be taken satisfied, following by claims for “mandatory payments to the budget and for extra-budgetary funds.” The process concludes with settlements being made to all other creditors.

27th April 2009/by Tyrepress Editors