Goodyear Set to Spend $125 Million at Plant

(Akron/Tire Review) News reports out of Alabama say that Goodyear plans to pour $125 million into upgrades and new equipment at its nearly 80-year-old Gadsden, Alabama, tyre plant. Reportedly the investment will come over three years. Plant manager Jim Davis told the Gadsden Times that, “The capital that we’re investing here will bring process capability and production capability that just do not reside here at this times. The investments in our plant will definitely help improve our plant’s viability and competitiveness.”

Goodyear is also getting help from the local government, said reports, with the Gadsden City Council approving $125 million in tax abatements. The Gadsden plant was one of the Goodyear plants that were given “protected status” in the recently signed master contract with the United Steelworkers, meaning it will likely remain operational through 2010.