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Latest News - November 2011

November 28, 2011
Cooper Tire announces lockout at Ohio plant
Source: Reuters
By: Maju Samuel

(Reuters) - Cooper Tire & Rubber Co (CTB.N) locked out union employees at its Findlay, Ohio plant after failing to reach an agreement over a long-term contract, and the union said it would pursue unlawful bargaining charges against the tire maker.

The union said it would pursue charges against Cooper with the National Labor Relations Board as the employees were locked out despite their offer to keep working while negotiations toward a new labor contract proceeded.

Cooper, which makes tires for passenger vehicles and light trucks, has been trying to extend its recently expired contract or reach agreement on a new long-term contract with United Steelworkers Local 207L. Talks with the union have been going on for three months.

The union represents more than 1,000 hourly workers at the plant.

Cooper said it had offered a final proposal for a new long-term contract and an offer to extend the recently expired contract for an additional year with no change in terms. The union was unwilling to extend the contract for more than 30 days, it said.

The company plans to continue manufacturing operations at the plant with a temporary workforce during the lockout, and said some production adjustments may be necessary in the near term.

It said dates for future negotiations with the union are currently being finalized.

The union, in a separate statement, said it was still committed to negotiating a fair contract.

Cooper's shares fell slightly to $13.12 in after-hours trading. They closed at $13.17 on Monday on the New York Stock Exchange.



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