Skip to main content
EVENT TRACKER
Keep track of rescheduled, canceled industry events with our COVID-affected event tracker - Powered by Snap Finance
Close
Sister Publication Links
  • Rubber & Plastics News
  • European Rubber Journal
tb-logo
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • OPINION
    • CORONAVIRUS
    • AUTO INDUSTRY
    • BUSINESS/FINANCIAL
    • COMMERCIAL TIRE
    • FACTORY FIXES
    • GOVERNMENT & LAW
    • INTERNATIONAL
    • MOTOR SPORTS
    • NEW PRODUCTS
    • RETAIL TIRES
    • SERVICE ZONE
    • SEMA/AAPEX
    • SMALL BUSINESS
    • TIRE MAKERS
    • SPONSORED CONTENT
    • New round of Paycheck Protection Program funding opens
      Vaccine may usher sense of normalcy
      Cover-up: More retailers requiring face masks to curb COVID
      USW alleges COVID-19 violations at Kumho plant
    • GM banking on 'BrightDrop' EV to build commercial van business
      Stengel promoted to president of NAPA parent Genuine Parts Co.
      Former auto exec Tyrone Jordan joins Cooper board of directors
      Bridgestone crafts virtual city to showcase sustainable-mobility initiatives
    • New round of Paycheck Protection Program funding opens
      H&H broadens precure OTR business with Continuum mold acquisition
      Apollo to raise prices of Vredestein brand, effective March 1
      Taiwan tire makers propose settlement of import duties case
    • GM banking on 'BrightDrop' EV to build commercial van business
      Gary Price to head Love's Truck Care operations
      TA opens 6th Oregon location, bringing 50 jobs to area
      Love's opens Speedco shops in Ariz., Calif., Ga.
    • New round of Paycheck Protection Program funding opens
      Taiwan tire makers propose settlement of import duties case
      Wireless auto data debate continues
      World rubber demand in 2021 to recover to 2019 levels — IRSG
    • General Tire Canada renews sponsorship deal with Raceline Network
      GRI expanding ag tire capacity at 3-year-old Sri Lanka plant
      Point S Canada adds 61 stores to network in 2020
      New round of Paycheck Protection Program funding opens
    • General Tire Canada renews sponsorship deal with Raceline Network
      Indy Autonomous Challenge: High-speed, head-to-head, no drivers
      TGI secures Cosmo-brand naming rights at Fla. race track
      Firestone Grand Prix of St. Petersburg postponed until April
    • Kumho launches commercial LT, performance tire lines
      The new One: Nokian unveils all-season passenger tire
      Ford, Hyundai earn 2021 top North American vehicle honors
      BKT expanding its ATV/UTV lineup with Sierra Max Pro radials
    • WTC hosting webinar Jan. 20 on load-capacity standards
      Bauer Built completes expansion at Neb. facility
      Point S Canada adds 61 stores to network in 2020
      J.D. Power survey: Quick greeting key to customer satisfaction
    • Shocks/struts maker KYB unveils video training series
      Bauer Built completes expansion at Neb. facility
      Marinucci: Basic steps to email efficiency
      Point S Canada adds 61 stores to network in 2020
    • WTC hosting webinar Jan. 20 on load-capacity standards
      Denver's Brian Sump named AAPEX Shop Owner of the Year
      DUB, TIS Wheels founder Myles Kovacs is SEMA Person of the Year
      AAPEX: Using social media to promote your business
    • Vaccine may usher sense of normalcy
      2020 Review: PPP loans give boost to small businesses
      Latest COVID relief bill includes $325B in small-business support
      AAPEX: Do more cars in the shop mean more profit?
    • General Tire Canada renews sponsorship deal with Raceline Network
      Apollo to raise prices of Vredestein brand, effective March 1
      Taiwan tire makers propose settlement of import duties case
      Kumho launches commercial LT, performance tire lines
    • Sponsored By Yokohama Tire Company
      7 questions to ask consumers when they need tires for a crossover SUV
      Sponsored By Yokohama Tire Company
      Stocking Tires for Crossover SUVs
  • SHOP FLOOR
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Video: Balancing Tire
      Safety tips for wheel balancing
      An introduction to wheel balancing
      Wheel weights: Balancing form with function
    • Video: Demounting
      Tire changer types, tips and trends
      How to clear rim rust and corrosion
      An introduction to demounting, mounting and inflation
    • Video: Safety
      Customers
      Considerations for shop safety policies
      Introduction: Creating a culture of safety
    • Video: Tire Repair
      Essential tools, materials and equipment for tire repair
      An introduction to tire repair
      How to properly patch a puncture
    • Video: TMPS Service
      The life-saving work of TPMS
      An introduction to TPMS service
      The importance of proper relearn procedures
    • Video: Training
      Internship ideas to attract tech talent
      Choosing the right auto service tech school
      Intro: Finding and training technicians
    • Video:Vehicle Lifting
      The gravity of proper lift points
      Safety essentials when using jack stands
      An introduction to lifts and lift safety
    • Video: Wheel Torque
      The importance of torque specifications
      Introduction to proper wheel installation
      Torque check and recheck recommendations
  • Multimedia
    • VIDEOS
    • PHOTOS
    • PODCASTS
  • Events
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
  • Data
    • DATA STORE
  • Resources
    • DIRECTORY
    • CLASSIFIEDS
  • ADVERTISE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
September 02, 1996 02:00 AM

YOKOHAMA LAYING OF 44 WORKERS: STANDARD PRODUCTS HAS RECORD QUARTER: GOODYEAR CANADA INKS LABOR PACTS: AT A GLANCE

  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    SALEM, Va.-Yokohama Tire Corp. is phasing out 44 manufacturing jobs at its Salem plant to slow production and bring down inventory, a company spokeswoman said. The company informed the workers in late July, and expected the phase-out to be completed within a few weeks, she said. Prior to the cuts, the plant employed a total of 1,050 workers.

    The layoffs will result in about a 3-percent drop in production at the Salem unit, which manufactures car and light truck tires.

    In another effort to slow production, Yokohama shut the plant Aug. 1-7, the spokeswoman said.

    DEARBORN, Mich.-Standard Products Co., parent of retread supplier Oliver Rubber Co., posted record sales and earnings for the fourth quarter of its 1996 fiscal year, ended June 30, and record sales for the entire year.

    The company, primarily a manufacturer of original equipment automotive components, did not comment on Oliver's performance for either the quarter or full year.

    For the quarter, Standard Products' earnings soared more than threefold from 1995 levels to $15.5 million on a 13.9-percent jump in sales to $303.1 million.

    Company sales passed the $1 billion mark for the year for the first time, as total 1996 sales grew 13.4 percent to $1.08 billion. Net income for the year skidded 27.4 percent to $14.6 million.

    MISSISSAUGA, Ontario-Goodyear Canada Inc. has assured itself of labor peace into the next millennium with the recent extension of a no-strike/no-lockout agreement with the union local at its Valleyfield, Quebec tire plant to the year 2007.

    The extension, described as a ``social contract,'' was approved together with a three-year monetary contract and covers the plant's 1,300 hourly workers.

    Back in June, the 238-member union local at Goodyear's tire plant in Medicine Hat, Alberta, approved a four-year labor pact that included a 50-cent increase in wages, as well as some improvements in benefits, but held the starting wage at $11.50 per hour.

    Bridgestone/Firestone Inc. sold the 5 millionth tire through its Affiliated Dealer Program in July. The program, created in 1991 to address the problems of small independent dealerships, now has 823 member dealerships, BFS said.

    The three largest tire makers, Bridgestone Corp., Group Michelin and Goodyear, made Fortune magazine's ``Global 500,'' a ranking of the top 500 publicly held corporations in the world, based on total sales.

    Bridgestone ranked 192nd, followed by Michelin at 302 and Goodyear at 305.

    Goodyear was the sole tire or automotive service franchiser to appear on Black Enterprise magazine's 1996 list of the ``20 Best Franchise Opportunities'' for African-American entrepreneurs, based on the strength of its franchisee support services, relatively low start-up costs and long-term profit potential.

    In 1995, Goodyear had 27 black-owned franchises, the magazine said.

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    tb-logo
    Reader Services
    • Contact Us
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber & Plastics News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • List Rental
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
      • OPINION
      • CORONAVIRUS
      • AUTO INDUSTRY
      • BUSINESS/FINANCIAL
      • COMMERCIAL TIRE
      • FACTORY FIXES
      • GOVERNMENT & LAW
      • INTERNATIONAL
      • MOTOR SPORTS
      • NEW PRODUCTS
      • RETAIL TIRES
      • SERVICE ZONE
      • SEMA/AAPEX
      • SMALL BUSINESS
      • TIRE MAKERS
      • SPONSORED CONTENT
    • SHOP FLOOR
      • BALANCING
      • DEMOUNTING
      • SAFETY
      • TIRE REPAIR
      • TPMS
      • TRAINING
      • VEHICLE LIFTING
      • WHEEL TORQUE
    • Multimedia
      • VIDEOS
      • PHOTOS
      • PODCASTS
    • Events
      • ASK THE EXPERT
      • LIVESTREAMS
      • WEBINARS
      • SEMA LIVESTREAMS
    • Data
      • DATA STORE
    • Resources
      • DIRECTORY
      • CLASSIFIEDS
    • ADVERTISE
    • DIGITAL EDITION