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Goodyear Tire & Rubber.

Goodyear Tire & Rubber will end tire production at its Valleyfield, Quebec, Canada, facility and transform the plant into a materials mixing center by the second half of 2007, the company said. Goodyear said the mixing center will employ about 200 people, compared with 1,000 who work at the tire plant now. The change will reduce Goodyear's annual production by 7 million tires. The company expects charges of $115 million to $120 million, or $165 to $170 million after tax, for restructuring and accelerated depreciation, with most of the charges taken in the fourth quarter.
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Title Annotation:Corporate, financial news
Publication:Rubber World
Date:Jan 1, 2007
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