Goodyear: Dalian $1 Billion Tyre Factory Report ‘Inaccurate’

Following reports that Goodyear was about to sign an agreement to invest a 10-figure sum in a production plant in Dalian, China, Goodyear has responded to Tyres & Accessories with the following statement. According to Keith Price, Goodyear’s National Media Relations Director: “Dalian is already an important location for Goodyear and further investments in that location are possible, however we continue to explore opportunities in Asia and Dalian is one of them.”

According to Price, Goodyear is not currently in a position to invest the huge figure Reuters reported: “$1 billion in one plant in less than several years is an impossibility for Goodyear. We will make the appropriate announcements once any decisions have been finalized.”

“We also are continuing to evaluate strategic investments in high-value-added and low-cost capacity in Eastern Europe and Asia,” the statement continued, adding: “As indicated in Goodyear’s fourth quarter investor conference call, the company remains committed and on track to reduce our net debt, improve our cash flow and achieve our next stage metrics.”