Goodyear to expand Dalian, invest elsewhere

NEW YORK (June 26, 2008) -- Further to Goodyear's announcement yesterday that it intends to close a tyre plant in Australia, The company has said it will begin an investment programme. Goodyear said it will move a factory in China, and spend as much as $1.8 billion in the US, Latin America and Europe to improve its global competitiveness.

In China, Goodyear intends to spend up to $500 million to expand capacity at a new facility in Dalian.

Goodyear said it will invest $500 million to $700 million over five years to moderni2e four US tyre plants to boost production of higher value-added tyres and improve cost efficiency. A spokesman said the four plants are Gadsden, Alabama; Fayetteville, North Carolina; Topeka, Kansas; and Danville, Vairginia.

In Latin America, Goodyear will spend as much as $600 million to expand production in Brazil and Chile, and in Europe, it has budgeted about $500 million to modernise and expand production in plants in Germany and Poland.

From Rubber & Plastics News (A Crain publication)

Press release from Goodyear