Cooper, USWA reach agreement on Cooper-Standard sale

FINDLAY, Ohio–Cooper Tire & Rubber Co. has reached an agreement with the United Steelworkers of America that will end the injunction on the sale of four Cooper-Standard Automotive plants.

On Sept. 17, Cooper announced an agreement to sell its automotive subsidiary for $1.17 billion to a group formed by the Cypress Group and Goldman Sachs Capital Partners. But the U.S. District Court in Indiana granted an injunction Nov. 2 after the union filed a complaint, arguing it had a right to negotiate new labor agreements with…

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