BREAKING NEWS: Union Ratifies Goodyear Master Contract
(Akron/Tire Review) Members of the United Steelworkers (USW) union today ratified a three-year master contract with Goodyear Tire & Rubber Co., officially ending the strike affecting 12 U.S. plants that began on Oct. 5.
BREAKING NEWS: Goodyear Announces Tentative Agreement with USW
(Akron/Tire Review) The Goodyear Tire & Rubber Co. today announced a tentative agreement with the United Steelworkers (USW) union.
TR Online Holiday Updates
(Akron/Tire Review) With the holiday season upon us, Tire Review Online will not be updated on a daily basis from Friday, Dec. 22 through Monday, Jan. 1.
Investment Group Ups Stake in A-V
(Akron/Tire Review) Russian Newswire reports that Alfa Group plans to increase its stake in Amtel-Vredestein NV to 26.14%.
Titan to Issue $200 Million in Notes
(Akron/Tire Review) Titan International plans to offer some $200 million in unsecured notes and will use the proceeds to pay down debt and for general expenses.
New Cooper Boss’ Compensation Outlined
(Akron/Tire Review) Dow Jones reported that new Cooper Tire & Rubber Co. president and CEO Roy Armes will have an annual salary of $700,000 when he starts on Jan. 1, 2007.
Tread Rubber Shipments Off in 2006
(Akron/Tire Review) RMA says that, while continued economic growth brought “sustained strong demand for tread rubber shipments in 2006,” heavy new truck purchasing over the year, coupled with a casing shortage, forced total tread rubber shipments to drop 1.2% vs. 2005.
NHTSA Nearly Ready With Durability Test Plan
(Akron/Tire Review) NHTSA is expected finally to release in early 2007 a proposal for testing the durability of aged tires, one that has reportedly earned the endorsement of “tire and auto industry officials.”
Bridgestone to Build New Giant OTR Tire Plant…in Japan
(Akron/Tire Review) For the first time in three decades, Bridgestone Corp. will build a new tire plant in its home country.
20 Million Needed to Restore Danubiana’s Fortunes
(Clacton, U.K./Tyres & Accessories) Gelu Tofan, one of Romania’s most prominent businessmen during the last decade, and the tyre manufacturer he controls, Danubiana, are facing significant financial problems.
Beru Chosen as BMW TPMS Supplier in U.S.
(Clacton, U.K./Tyres & Accessories) BMW has chosen the German company Beru AG as its supplier of tyre pressure control systems for BMW vehicles destined for the U.S. market.
Conti Considers Price and Dividend Increase
(Clacton, U.K./Tyres & Accessories) Continental AG chief executive Manfred Wennemer has admitted that Conti is considering paying larger dividends and also giving out a special dividend for the 2006 business year to reduce its cash reserves.