Akron, Ohio – Goodyear Tire & Rubber will close its tire plant in the Philippines as part of its plan to remove 15 to 25 million units of capacity globally over the next two years.
The closure, which is expected to be completed by the third quarter of 2009, will result in a loss of approximately 500 of the 600 workers the company has in the Philippines. Goodyear’s sales and marketing operations in the company are not affected.
Production will be transferred from the Las Pinas plant to lower-cost plants in the company’s Asia-Pacific Region.
Goodyear has had a presence in the Philippines since 1919, and opened the Las Pinas plant in 1956.