Goodyear to set up $500 mn tyre plant in Americas
Ohio-based Goodyear Tire & Rubber Co announced its plan to build a $500 million tyre production plant in the Americas.
The announcement was made during the company’s 2014-2016 capital allocation plan.
The company said that the plant would have an initial capacity of around six million tyre per year and the capacity could be increased as demand grows.
Right now, Goodyear is in process of identifying the location to set up the plant. “Site selection is underway to identify the best location for the plant to support North America and Latin America customers,” said the company.
According to the company, tyre production is expected to start in the first half of 2017.