Workers go on strike at key automotive insulation plant in Pa.

About 270 workers at the Autoneum plant in Bloomsburg, Pennsylvania, went on strike last week against a major automotive insulation system supplier.

According to media reports, contract negotiations between the company and its union stalled after the company’s latest contract offer was rejected by workers. rice field.

Based in Winterthur, Switzerland, Autoneum focuses on internal and external sound and thermal insulation systems. According to the company’s website, suppliers work with nearly every major automaker, including General Motors, Ford Motor and Stellantis.

The exact customer list for the Bloomsburg plant is unknown. But the factory won him awards from Toyota in 2011, Ford in 2014 and GM in 2021. car news I am seeking comment on the strike.

Brian Heverly, president of Local 1700 Workers United, told Fox 56 that the public turned down Autoneum’s third and final contract offer.

Among worker complaints is the supplier’s allegation that workers pay 5% more for medical bills on top of their normal annual increases.

Local 1700 Vice President Dave Schaffer, who has been an employee at the plant for 44 years, told Fox 56 that workers didn’t want to go on strike, but felt compelled to do so given the circumstances.

“I’m fourth generation. It was this place that made this town. People and communities appreciate what we have here and we didn’t want to go down this road.” said Shaffer. “I didn’t want to do this. It’s a very historic day. We are united. It’s not great, but I’m very proud of everyone who works here.”

Shaffer added that the last strike at the factory was in 1968.

A GM spokesperson said car news Automakers are aware of the situation, but do not expect the strike to have an immediate impact on GM’s operations.

It is not clear whether the factory is able to continue production with salaried workers. No further comments were available.

First half net loss

Autoneum Statement issued on July 27said it posted a net loss of CHF 12.8 million ($13.6 million) in the first half of 2022, compared with a profit of CHF 25.5 million ($27 million) in the same period last year. Earnings fell by 0.2% to his 889 million francs.

The company’s woes mirror those of many other global auto suppliers this year, particularly those operating in Europe.

“Current geopolitical developments have had a significant impact on our results in the first half of 2022,” Autoneum said in a statement. “This is accompanied by accelerating inflation and significant price increases in commodity markets, aggravated by the war in Ukraine. These developments are also delaying the market recovery of the auto industry.”

October 31, according to the company reaching a new loan agreement of 355 million francs ($377 million) with a bank;

“We are delighted to have signed this financing agreement, which guarantees the long-term financing of the Group,” said CFO Bernhard Wiel in a statement. Regardless, it is also important to say at this point that Autoneum has successfully further strengthened its financial stability over the past three years.With positive cash flow development over the last two years, Autoneum is poised to continue in 2020 and beyond. We have been able to reduce our net debt substantially.”

Philip Nussel car news Contributed to this report.

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