News Article

Goodyear to Shut UK Tire Plant

Home

NEW YORK, US – The Goodyear Tire & Rubber Co said on Wednesday it plans to close an automobile tire plant in Britain and the TC Debica bicycle tire plant in Poland in order to achieve combined annual savings of up to $50 million.

The world’s largest tire company, which is based in Akron,US, said it has begun discussions with union employees as a step toward shutting its Goodyear Dunlop United Kingdom tire factory in Washington, northeast England.

Goodyear to Shut UK Tire Plant

NEW YORK, US – The Goodyear Tire & Rubber Co said on Wednesday it plans to close an automobile tire plant in Britain and a bicycle tire plant in Poland in order to achieve combined annual savings of up to $50 million.
 
The world’s largest tire company, which is based in Akron,US, said it has begun discussions with union employees as a step toward shutting its Goodyear Dunlop United Kingdom tire factory in Washington, northeast England.
In addition, the company said it will discontinue production of bicycle tires and inner tubes at its plant in Debica, Poland.
The company estimated the plant closures will lead to elimination of about 1,500 jobs and create annual cost savings of between $40 million and $50 million, and result in a charge of between $105 million and $115 million.About $55 million of the charges will be taken in the first and second quarters of 2006, the company said in a statement. Goodyear has said it wants to cut costs by up to $1 billion over the next few years, with a focus on its North America operations and by buying raw materials and equipment from Asia.The company has more than 80,000 employees that make tires, rubber products and chemicals in 28 countries.
 
 

Comment on this article