Goodyear Workers Approve New Contract

Matt Leingang

COLUMBUS, Ohio -- Goodyear Tire & Rubber(GT Quote) workers approved a new contract that will prevent the potential closing of a half-dozen plants in the U.S. in the next four years, union leaders said Saturday.

The United Steelworkers said the agreement covers about 10,300 workers. Voting concluded at seven plants late Friday.

The contract requires minimum staffing levels at six of the seven Goodyear plants and prevents the company from shifting production to any facility not represented by the steelworkers union. It also calls for Goodyear, based in Akron, Ohio, to invest $600 million at the plants, keeping them up-to-date.

"This agreement reflects the commitment of Goodyear and the USW to continue to work together to achieve our common goal of world-class competitiveness," said Richard Kramer, Goodyear's chief operating officer.

The company planned to discuss the deal with investors during a Monday conference call.

The new contract includes wage and benefit increases, improved pensions for some workers, and continuation of previous cost-of-living provisions for all workers, the union said.