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Former Goodyear steel cord plant to close

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When Goodyear sold its steel tyre cord factories in Colmar-Berg, Luxembourg and Asheboro, US to Korea’s Hyosung Corporation in mid-2011, the tyre maker reported entering into a multi-year agreement for Hyosung to supply it with finished wire products. Now, less than 18 months after Goodyear sold the plants and the right to use certain patents and know-how for US$50 million, Hyosung Corporation has announced the closure of the Asheboro facility. Some 310 employees will be affected by this decision.

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