Goodyear to Boost Chinese, Brazilian Investment

American news sources have reported that following its closure of a tyre plant in Australia, Goodyear intends to refurbish four plants in the USA, while making further investments in China and Brazil.

Chief Executive Officer Robert Keegan is quoted as saying “We anticipate capital investments totalling between $1 billion and $1.3 billion per year from 2008 to 2010.” While the US manufacturing plants due for refurbishment were not yet specified, it is reported that the company will look to invest around $700 million over five years in an effort to modernise the facilities.