Printer Friendly



Goodyear will further cut back production at its North American tire plants because of sluggishness and the current overcapacity in the industry for passenger and radial truck tires, the company said in a statement. About 400 indefinite employee layoffs will result at three passenger tire plants in Gadsden, AL; Union City, TN; and Valleyfield, Quebec. These cutbacks are in addition to reduced operating schedules at Gadsden and Union City. The two factories will close for five days in June and July, and workers will not work on the July 4 holiday and will take one week's vacation. Reduced schedules were also announced at truck tire plants in Danville, VA, and Topeka, KS, and at an industrial tire plant in Madisonville, KY.

Goodyear reported first quarter sales of $2.5 billion and a net loss of $90.1 million. Operating income in the tires and related segment was $62.8 million on sales of $2 billion. General products segment operating income was $57.7 million on sales of $458.5 million.
COPYRIGHT 1991 Lippincott & Peto, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Corporate, financial news; Goodyear Tire and Rubber Co. production cuts at North American plants
Publication:Rubber World
Article Type:Brief Article
Date:Jul 1, 1991
Previous Article:Goodyear Tire & Rubber.
Next Article:H. Muehlstein & Co.

Related Articles
Air Treads.
Acquisitions, expansions.
Auto production driving L. American rubber industry.
Goodyear and Sumitomo form global alliance.
What's in a name? (Editorial).
Continental AG closes tire plants in Sweden, Austria. (Corporate Financial News).
Goodyear doubles tread production capability in GA. (Acquisitions, Expansions).
Goodyear Tire and Rubber cuts jobs, eliminates dividend. (Corporate, financial news).
Goodyear closes plants, may sell a division.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters