Goodyear to close Philippine tyre plant, 500 jobs hit

17 July 2009 13:56  [Source: ICIS news]

TORONTO (ICIS news)--Goodyear plans to close its tyre plant in the Philippines by the end of the third quarter, resulting in about 500 job losses, the US-based global tyre maker said on Friday.

The closure of the plant in Las Pinas would remove nearly 2m units of annual production capacity, it said.

"Due to high costs compared to other plants in the region, tyres produced in the Las Pinas plant are not competitive in the marketplace," said Pierre Cohade, president of Goodyear in the Asia-Pacific region.

The move to shut the 53-year old plant was part of the company’s strategy to close uncompetitive manufacturing capacity globally. Goodyear aims to remove 15m-25m units of capacity over the next two years.

In May, it said it would close a tyre plant in France next year, resulting in 820 job losses.

Goodyear, one of the world’s largest tyre firms, produces styrene butadiene rubber (SBR), which is used in the manufacture of tyres. It is a large buyer of butadiene (BD).

To discuss issues facing the chemical industry go to ICIS connect

By: Stefan Baumgarten
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index