Goodyear Reaches Contract Agreement with Steelworkers

While details of a contract settlement won't be disclosed until workers have had a chance to review the proposal, Goodyear Tire & Rubber and the United Steelworkers union said they have reached an agreement on a new master contract covering about 8,000 employees at six U.S. plants.

According to the union representative, the tentative agreement must be approved by a majority of the six local unions representing a majority of the membership at plants in Akron, Ohio; Gadsden, Ala.; Buffalo, N.Y.; Topeka, Kan.; Danville, Va., and Fayetteville, N.C.

Steelworkers struck Goodyear for three months in 2006, costing the tire maker $367 million. The union had advised members to plan for a strike again if the talks fell through, but at 11 p.m. before the deadline expired, the two sides reached their agreement. 

The article Goodyear Reaches Contract Agreement with Steelworkers originally appeared on

Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story