Cooper Tire, USWA Reach New Labor Agreement.FINDLAY, Ohio--(BUSINESS WIRE)--Nov. 11, 1997--A new three-year contract between Cooper Tire & Rubber Company and United Steelworkers United Steelworkers (USW) historic labour union representing workers in steel, aluminum, and other metallurgical industries for much of the 20th century. In the U.S. of America (USWA USWA United Steelworkers of America USWA United States Wrestling Association USWA United States Windsurfing Association USWA United States Wristwrestling Association Local 207) was ratified by the Union members on Monday, November 10. The agreement replaces one which expired at midnight, October 31, and covers approximately 1,004 employees and 448 retirees of the bargaining unit A bargaining unit in labor relations is a group of employees with a clear and identifiable community of interests who are (under U.S. law) represented by a single labor union in collective bargaining and other dealings with management. at Cooper's Findlay plant. The plant had continued operations past the contract expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. on a day-to-day basis while negotiators worked to forge the new agreement. Mike Saum, president of the local, Jim Geers, corporate director of industrial relations for Cooper, and Mike Delaney, industrial relations manager for the Findlay plant, in a joint statement following ratification of the pact, said the contract continues a cost-of-living allowance provision, provides for a general wage increase in each of the three years, and includes a one time, first year lump sum Lump sum A large one-time payment of money. payment. In addition, the agreement provides improvements in pensions, life insurance, as well as in other employee benefit plans. Specific details of the agreement are not being released by the company. CONTACT: Cooper Tire & Rubber Company Jim Geers, 419/423-1321 |
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