Reading: Goodyear to Rejuvenate 80 Year-Old Tyre Plant with $125 Million

Goodyear has announced plans to invest $125 million into rejuvenating one of its oldest plants. The 80 year-old passenger and light truck tyre plant in Gadsden, Alabama, will be offered new equipment and upgrades over a three-year investment period, as well as aid from the local government.

Gadsden City Council has reportedly approved tax abatements for the $125 million Goodyear investment, and the recent contract with United Steelworkers has ensured that the plant will stay operational through 2010. Gadsden tyre plant was one of the twelve Goodyear plants granted “protected status” in the company’s agreement with the United Steelworker of America (USWA).

The manager of the Gadsden plant, Jim Davis, spoke to the Gadsden Times about the investment, stating that: “The capital that we’re investing here will bring process capability and production capability that just do not reside here at this time.”

Mr Davis concluded: “The investments in our plant will definitely help improve our plant’s viability and competitiveness.” The Gadsden tyre factory opened in 1928, and has the capacity to produce 15,000 passenger tyres and 10,000 light truck tyres per day.

http://www.reifenpresse.de/CDML007/en/gast/fs_kurzmeldungen.html

Tags: investment, Old Tyre plant

This entry was posted on Wednesday, May 23rd, 2007 at 1:29 pm and is filed under Goodyear. You can follow any responses to this entry through the RSS 2.0 feed.