Tire maker reported a 92 percent drop in annual profit as global demand for tires dropped sharply, and forecast even more dismal earnings for the coming year.
U.S. tire maker said Wednesday it plans to cut almost 7 percent of its work force this year after swinging to a fourth-quarter loss as sales sank 21 percent.
Fayetteville, N.C., where Goodyear Tire & Rubber Co. operates a large plant that employs 3,000 people, has approved a $1 million payment to help retain jobs.
Tire and rubber company says it needs to cut costs because of slumping tire sales and plans to reduce the amount of tires available by adjusting tire production at factories.
Governor intends to sign a bill that would provide $19 million of incentives to keep a Cooper Tire & Rubber Co. manufacturing plant in northeastern Mississippi.
Maker of paper and plastic products says it will lay off about 10 percent of its work force as it accelerates cost cutting this year.
Tire maker says it will close its plant in Albany, Ga., the result of a capacity study of its four plants.
Auto parts supplier Key Plastics LLC said Tuesday it has filed for Chapter 11 bankruptcy protection and submitted a pre-packaged reorganization plan.
In effort to keep the plant operating, union members at Cooper Tire and Rubber Co. in Texarkana, Ark., have voted to approve a three-year contract laden with concessions.
Tire maker said it had reached a tentative agreement for a new contract with unionized workers at its Texarkana plant as it continues plans to close one of its U.S. facilities.
United Steelworkers members in Ohio overwhelmingly approved a 3-year contract with Cooper Tire & Rubber that includes major concessions by workers anxious to keep their jobs.
Arkansas and Texas are working on an incentive package to convince Cooper Tire and Rubber Co. to keep open its tire plant in Texarkana, Arkansas’ governor said Wednesday.
Tire company will layoff at least 158 employees at its plant in LaVergne, Tenn., due to a decrease in demand for passenger and light truck tires.
French tire maker said Tuesday it will temporarily close its Romanian factories until further notice due to a drop in demand for tires amid the global economic crisis.
British chemicals producer agreed to a $1.6 billion cash takeover by Mitsubishi Rayon Co. Ltd., which would gain ownership of the Lucite and Perspex acrylic plastic brands.
Texarkana officials are working to convince Cooper Tire and Rubber Co. to keep open its tire plant on the city's Arkansas side.
BFGoodrich plans to temporarily cut production by nearly 40 percent at its Indiana tire plant, which could mean temporary layoffs for about 500 workers, said union officials.
Tire maker said Tuesday it launched a capacity study of its U.S. manufacturing facilities that will likely lead to consolidation or restructuring.
Ohio-based Cooper Tire & Rubber Co. says it will likely close one of four U.S. manufacturing plants in the coming months due to slumping demand for tires.
Downturn in the automobile industry and the global economy will delay construction of the Kumno Tire plant in south Bibb County.
World’s largest tire and rubber company is creating a new entity called Bridgestone Americas Tire Operations to oversee business in North and South America.
Officials will look into concerns that a prominent toxicologist asked to render an independent verdict on the safety of bisphenol A may have a financial conflict-of-interest.
Attorneys general from three states on Monday asked 11 companies that make baby bottles and baby formula containers to no longer use the toxic chemical bisphenol A.
Tire and rubber company will halt production Monday for one week at its median radial truck tire division in Topeka, idling 500 of the plant's 1,600 employees.