FRANCE: Gloomy prognosis for Goodyear Amiens Nord as no Titan information
Goodyear in France says it has had no information from Titan International concerning a possible takeover of its tyre plant in Amiens Nord, despite speculation the American company could launch a bid.
The future for the site in northern France looks increasingly bleak and tomorrow (7 November) will see the last Works Council to discuss its potential shuttering that could see the loss of nearly 1,200 jobs.
"We still have not received anything [contact] at all, neither from Titan nor from Montebourg [Arnaud, French Economics Redevelopment Minister], so we are just waiting to have some information," a Goodyear spokesman told just-auto from France.
"We can't really say much because we don't know [if] there is an offer, we don't know if there is a plan. We don't know if it is just a conversation between the Minister and Titan."
Tomorrow's Works Council is due to take place with Goodyear's unions against the background of potential staff redeployment or transfer, although there is no indication yet of any potential numbers of redundancies.
There has been a harsh series of exchanges in France between Titan CEO, Maurice Taylor and one hardline union in particular, the CGT, who appear to have little time for each other.
Earlier this year, 57 companies around the world that were deemed potentially suitable for a takeover were contacted by the French Agency for International Investment (AFII), of which eight declared themselves interested.
Of these eight companies, five signed confidentiality agreements and two non-binding offers were presented, but the Economic Redevelopment Ministry said at the time no candidates were in a position to present a binding offer.
"The Works Council is at headquarters in Reuil," said the Goodyear spokesman. "We really don't know what to expect tomorrow. For us it is the last step in the process.
"All the representatives of the personnel will be there - they should be there. It is up to them [to] come or not."
The Works Council is due to start at 08:30 French time.
Global Tires & Rubber industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2008-12, and forecast to 2017). The profile also c...
This QUBE report from just-auto report provides a comprehensive overview of the global light vehicle OE tyres sector, major suppliers, top markets, technology trends and market size forecasts. Use thi...
Goodyear Tire and Rubber took a US$132m foreign exchange hit in Q1 2014 as the Venezuelan bolivar tumbled. That and other challenges in South America led the company to report a net loss of US$58m for...
TechNavio's analysts forecast the Global Green Tire market to grow at a CAGR of 9.82 percent over the period 2012-2016. One of the key factors contributing to this market growth is the tightening of f...
Goodyear has posted posted a strong set of fourth quarter financial results that have cheered investors as the share price surged in early trading....
TechNavio's analysts forecast the Winter Tire market in the US to grow at a CAGR of 3.85 percent over the period 2014-2018. One of the key factors contributing to this market growth is the increasing ...
TechNavio’s analysts forecast the Tire market in South Africa will grow at a CAGR of 8.24 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing...
- ANALYSIS: Making sense of China's sales volatility
- COMMENT: McLaren comes of age
- Briefing: Tomorrow's steering systems
- ANALYSIS: Kia 'thinks globally, acts locally'
- ANALYSIS: New Corsa VXR & future Opels/Vauxhalls
- Delphi ramps up acquisitions
- Ricardo opens Vehicle Emissions Research Centre
- North America boosts Ford Q2 profits
- FRANKFURT DEBUTS LIST: Ferrari 488 Spider added
- Škoda plans summer factory expansion, maintenance
- Global vehicle lightweighting - technology, trends and the future
- Global light vehicle engine technologies market- forecasts to 2030
- Global light vehicle steering market- forecasts to 2030
- Global light vehicle OE tyres market- forecasts to 2030
- Global light vehicle OE wheels market- forecasts to 2030