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Vehicle, Tyre Giants Close American Plants; to Source More From Asia

(India/Rubber Asia) Goodyear Tire & Rubber is contemplating closure of an undisclosed number of plants in various locations, as part of a sweeping restructuring aimed at improving its North American tyre business and saving up to $1 billion over the next few years.

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The company said it plans to cut high-cost manufacturing capacity by 8–12%, and the tyre giant will increase sourcing from Asia.

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Separately, it was reported that General Motors plans to cut jobs and close auto plants in North America, resulting in a reduction in production capacity by one million vehicles from its current position.

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