AKRON (Jan. 5) — Goodyear will hold an investor conference call to discuss details of its new master labor contract with the United Steelworkers union and related financial developments at 9 a.m. EST on Jan. 9, the company announced.
Participating in the conference call will be Robert J. Keegan, Goodyear chairman and CEO; Richard J. Kramer, executive vice president and chief financial officer; Jonathan D. Rich, president of the company´s North American Tire unit; and Darren R. Wells, senior vice president, business development and treasurer.
The master contract — ratified Dec. 28 after an 86-day strike — covers workers at 12 tire and engineered products factories in the U.S. The pact gives Goodyear "the ability to reduce excess high-cost manufacturing capacity, decrease legacy costs, improve productivity and source product globally," the Akron tire maker said.
Provisions of the three-year agreement provide Goodyear with the ability to achieve up to $610 million in cost savings over its term and $300 million a year in ongoing savings, the company said.
The 12 master contract plants and their workers covered by the agreement are located in Akron, Ohio; Buffalo, N.Y.; Danville, Va.; Fayetteville, N.C.; Gadsden, Ala.; Lincoln, Neb.; Marysville, Ohio; St. Marys, Ohio; Sun Prairie, Wis.; Topeka, Kan.; Tyler, Texas; and Union City, Tenn. The Tyler plant is slated to be closed sometime after the end of 2007.
Prior to the call, the company will post financial and other statistical information that will be presented on its investor relations Web site: investor.goodyear.com.
Shareholders, members of the media and other interested persons may access the conference call on the Web site or via telephone by calling 706-634-5954 before 8:55 a.m. Jan. 9. A taped replay of the conference call will be available at 3 p.m. that day by calling 706-634-4556.
The call replay will also remain available on the Web site.