Goodyear to expand Quebec plant
AKRON, Ohio (March 30) — At a time when the company is trying to pare costs, The Goodyear Tire & Rubber Co. will pump $57 million into expansion of its plant in Valleyfield, Que.
The tiremaker says the plan is part of an initiative to upgrade its most productive facilities.
“Competition for global capital investment dollars is intense, and Goodyear’s investment plans have been adjusted downward to reflect weakened economies in emerging markets,” said Goodyear chairman and CEO Sam Gibara. “Only the most efficient facilities will qualify for new investment, and we will not add capacity beyond market growth.”
The Valleyfield plant produces light truck tires, which are in high demand as sales of sport utility vehicles and pickup trucks surge. Gibara said the factory meets all of Goodyear’s investment requirements, “including an extremely productive workforce, flexible scheduling and a low-cost base.”
The company said the expansion at Valleyfield will come on line in 2001.
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