Goodyear closes UK plant
Goodyear Tire & Rubber decided to shut down its UK plant, located at Wolverhampton, to cut strengthen its competitiveness in a challenging business environment. The company, according to Reuters, will shift production to Europe, the Middle East and Africa (EMEA).
Goodyear also said it would transfer consumer tyre production from its plant in in Wittlich, Germany to the EMEA region. With the shut down , around 360-390 people are to be axed, but job cut is subject to consultation with employee representative bodies Goodyear .
Goodyear started production at Wolverhampton in December 1927.
The restructuring is expected to improve the EMEA region’s operating income by about $30 million per year beginning in 2017, Goodyear said.