Munich, Germany — Goodyear has disclosed plans to invest $36 million to increase production of OTR tires and make process improvements at its factory in Colmar-Berg, Luxembourg.
Goodyear announced the investment during Bauma construction industry trade fair in Munich, where it's an exhibitor.
"The demand for premium OTR tires continues to grow worldwide, " said David Anckaert, vice president of Goodyear's commercial tire business in Europe.
The upward trend, said Anckaert, reflects the expansion of mining and construction operations, as well as developments in the port and industrial segments.
As well as meeting growing demand, the investment will enable Goodyear to offer “a complete portfolio of high-quality products and total mobility solutions both for trucks and off-the-road machines."
Goodyear did not quantify the impact on the plant's capacity or workforce. The plant, which opened in 1951, makes medium truck tires in addition to OTR tires.
The company is building a second plant in Luxembourg, close to the existing Colmar-Berg factory, for the production of premium passenger tires.