According to foreign media reports, Apollo’s plan to acquire Cooper has recently encountered obstacles in the United States. As requested by the US Steel Workers Union (USW), an arbitrator decided on the dispute between the two parties: a labor agreement was reached with the USW union. Previously, Cooper Tire could not sell its two American factories to Apollo tires.
In order to protect Cooper Tire in Findlay, Ohio (Findlay) factory Kenner Texas and Arkansas (Texarkana) factory in the interests of 2,500 employees, USW requested prior to the acquisition of Apollo Tires Cooper Tire, which shall be the same The union reached a labor agreement.
To this end, Cooper Tire and the USW union commissioned James Oldham, a law professor at Georgetown University, as the arbitrator, who delivered a judgment on September 13 and supported the USW union’s request.
In February 2012, Cooper Tire reached an agreement with the union members of the Findlay plant and agreed not to sell or transfer the factory unless the following conditions are met: 1. The purchaser must agree to let USW be the negotiator for the factory staff; The acquirer must enter into a labor agreement with the union for the employee and the agreement must come into effect on the date of completion of the merger transaction.
The USW union stated: "The union is looking forward to resuming negotiations with Apollo and Cooper Tires. Our members are very concerned about the impact of this merger and acquisition transaction on Cooper's debt. We intend to formulate an agreement that can protect the interests of union members. ."
According to Tire Business website, Apollo tires and Cooper tires have begun negotiations with the USW union. Cooper Tire said in a statement: "Cooper and Apollo Tire are still firmly committed to the strategic significance of this merger, and we are optimistic that we will reach a mutually beneficial agreement with the USW union."
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