Goodyear to Close U.K. Tire Plant
oodyear Tire & Rubber Co. said Wednesday it intends to close a tire plant in the United Kingdom as part of its strategy to reduce costs in its worldwide operations.
Goodyear said it will close its Goodyear Dunlop Tyres UK passenger tire factory in Washington, U.K., where it has begun consultation with union representatives.
The action is expected to create annual savings of about $20 million and result in $55 million to $65 million after-tax charges, Goodyear said in a statement.