AKRON, Ohio, /PRNewswire-FirstCall/ -- The Goodyear Tire & Rubber Company 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 Tuesday, January 9.
Participating in the conference call will be Robert J. Keegan, chairman and chief executive officer; Richard J. Kramer, executive vice president and chief financial officer; Jonathan D. Rich, president, North American Tire, and Darren R. Wells, senior vice president, business development and treasurer.
The master contract, which covers workers at 12 tire and engineered products factories in the United States, gives Goodyear the ability to reduce excess high-cost manufacturing capacity, decrease legacy costs, improve productivity and source product globally.
Provisions of the three-year agreement, which was ratified December 28, 2006, 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 12 master contract plants and their workers covered by the agreement are: 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.
Prior to the commencement of the call, the company will post the 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. January 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.
Goodyear is one of the world's largest tire companies. The company manufactures tires, engineered rubber products and chemicals in more than 100 facilities in 29 countries around the world. Goodyear employs about 80,000 people worldwide.
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