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Goodyear to Close, Cut Europe Tire Plants; Other Cuts Set

(Akron/Tire Review) Goodyear Tire & Rubber Co. this morning announced plans to close one of its European tire plants and reduce production at another, moves the company said were cost-cutting efforts.

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The tiremaker plans to close its Goodyear Dunlop Tyres U.K. passenger tire plant in Washington, U.K., and will eliminate production of bicycle tires and inner tubes at its plant in Debica, Poland.

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In addition, Goodyear said it will cut costs from its European Union and Asia Pacific tire operations and from its Engineered Products group, but offered no details.

The moves will cut some 1,500 jobs and save the company an estimated $40 to $50 million annually. The company said it will take a charge of $105 to $115 million to facilitate the reductions.

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