Goodyear declares quarterly dividend
The Goodyear Tire & Rubber Company has declared a quarterly dividend of 73.44 cents per share of mandatory convertible preferred stock. The payout represents an annual rate of $2.9375 per share.
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Cooper to partner in plant based rubber project
NewsParthenium argentatum, or guayule, is a flowering shrub native to the southwestern United States and northern Mexico, and can be used as an alternative source of latex. It is precisely this quality that has piqued the interest of Cooper Tire & Rubber. The tyre maker has looked into alternative latex sources for a couple of years now and on 29 February it announced having entered into an agreement with Yulex Corporation to jointly evaluate and develop guayule polymers and resins for tyre applications.
Update – Cooper Findlay labour agreement ratified
NewsAlmost three months to the day after the announcement of a lockout at Cooper Tire & Rubber’s Findlay factory in the US state of Ohio, agreement on a new labour agreement has been reached by the tyre maker and the United Steelworkers union. On 27 February Cooper announced that USW Local 207L has ratified a five-year agreement that covers some 1,050 union members at the Findlay plant. Union members voted 627 to 321 in favour of the agreement.
Cooper's Findlay workers consider 5-year contract
NewsUnion workers at Cooper Tire & Rubber Co’s plant in Findlay, Ohio, go to the ballot box today to consider a new five-year contract offer that could end the now three-month long lock out at the plant, reports Tire Review. But according to reports in the Findlay Courier this morning, some USW Local 207 members feel it will be a close vote, even though its 1,050 members have been without a paycheck since November 2011.
Cooper posts higher sales, profits for 2011
Career TracksEven as it tries to resolve a three-month lock out at its hometown Findlay, Ohio, plant, Cooper Tire & Rubber Co reported full-year 2011 net profit of $269.6 million against sales of $3.9 billion, Tire Review reports. The sales results were an improvement of $566 million, or 17 per cent, from 2010, while the net profit mark was up significantly from 2010’s $163.9 million.
Cooper workers agree second tentative contract
News90 days after they were locked out of their jobs, workers at the Cooper Tire & Rubber Co. plant in Findlay, Ohio, have reached a second tentative contract with the tyre-maker, Tire Review reports. The agreement, which will be put to a ratification vote this weekend, was reached late on 23 February. The two sides had returned to the bargaining table on 20 February and have held lengthy sessions on each day since.
Avon signs 3-year Euro and Dutch GT4 series exclusive supply deal
MotorsportCooper Tire & Rubber Company Europe’s Avon Tyres will be the official tyre supplier to the European GT4 Cup and Dutch GT4 Championship for the next three years. Avon has ramped up its GT tyre products since its introduction into the British GT Championship in 2006, and the brand’s representatives say the latest contract shows its boosted reputation as a “world class supplier” of the product. All tyres for both championships will be manufactured in the UK at Avon Tyres Motorsport’s headquarters in Melksham, Wiltshire.
Deals reached between Cooper, unions
NewsNo need for undue excitement. An agreement has been ratified between Cooper Tire & Rubber and workers based in Findlay, Ohio – but they aren’t the locked-out workers embroiled in the fracas oft reported by Tyrepress.com over the past couple of months. The three-year contract with the US tyre maker involves truck drivers represented by the Teamsters union. Final approval of the new contract was given on 18 February.
Pirelli launches MINI Challenge supply
MotorsportPirelli has supplied its first MINI Challenge event at the MotorSport Vision Racing Media Day. Hosted by Brands Hatch on Tuesday, former MINI Challenge champion Lee Allen in a Pirelli-branded MINI John Cooper Works among others demonstrated the tyres to gathered media representatives. For the Challenge’s drivers, this was the first chance to try out the new Pirelli tyres, and thanks to damp morning conditions were able to sample both the Pirelli 225/625-17 WH wet tyre and the 225/625-17 DH slick tyre; the latter used as the track dried out in the afternoon. There are two classes within the MINI Challenge: the turbocharged JCW class and the Club class. The Pirelli RX5 15” intermediate tyre is also used for the less powerful Club class. The first round of the championship takes place at Silverstone on 14 April.
Cooper workers to participate in ‘justice’ road trip
NewsThe lockout at Cooper Tire & Rubber’s Findlay plant in the US state of Ohio has been in effect for almost three months now. And while the tyre maker is keeping quiet about how or even if it plans to reach a mutually acceptable agreement with the United Steelworkers union, the situation is being kept in the public eye by the union. On 15 February the USW announced a joint project with the Bakery, Confectionery, Tobacco Workers, and Grain Millers International Union (BCTGM). Called “From Fargo to Findlay: A Journey for Justice”, the project involves locked out workers from Findlay and a BCTGM represented factory embarking on a road trip from Fargo, North Dakota (where the aforementioned factory is located) to Findlay. The USW says the road trip’s aim is to “focus attention on the most recent wave of greed-motivated corporate attacks on workers and their unions.”
British artists create exhibition from Cooper tyres
NewsFour British artists chosen in partnership by Cooper Tire Europe and the UK’s leading art store, Castle Galleries, have created visual artworks starting with tyres as effective canvasses. Based on three themes relevant to Cooper Avon products and their motorsport heritage, the artists spent 257 man hours crafting the pieces, which will be displayed at Artica Galleries, South Molton Street, London until 17 February 2012.
Avon deploys new tyre for British GT Championship
MotorsportThe Avon brand, manufactured by Cooper Tire & Rubber Company Europe Ltd, has unveiled the fourth generation of its GT racing tyre since it took over as sole supplier and title sponsor of the series in 2006. Avon Tyres Motorsport technical manager, Mike Lynch, believes the new tyre will be around a second quicker than its predecessor around most circuits on the British GT calendar but, importantly, will also be durable enough for teams to use strategies demanding longer stints.
Cooper Findlay talks break down – again
NewsRecently resumed talks over a new contract for Cooper Tire & Rubber’s Findlay plant in Ohio have already stalled, local media sources report. Representatives from the tyre maker and the United Steelworkers union only began negotiations again on 6 February, yet a union official told the Coshcoton Tribune that they’ve already stalled.
Talking again – Cooper, USW restart Findlay discussions
NewsIt’s been a good six or seven weeks since the Findlay talks between Cooper Tire & Rubber and the United Steelworkers union broke down, and no positive news has been heard on the subject since the start of the year. Now it seems the two parties are finally working again towards an amicable solution. Local news source WTOL reports that Cooper Tire management met with union leaders on 6 February; discussions between the tyre maker and the union are said to have lasted some six and a half hours, and meetings are scheduled to resume this morning.
Avon supplies tyres for inaugural Gulf 12 Hours
MotorsportAvon Tyres Motorsport has supplied tyres to the inaugural Gulf 12 Hours event in Abu Dhabi on 20 January. The event was held at the Yas Marina Grand Prix circuit, featuring GT3 cars and CN2-class sports prototypes competing in a two six-hour races, the first of which took place in the heat of the day, the second under floodlights in the evening.
