Goodyear has announced theclosure of its plant at Marikina in the Philippines due to overcapacity and continuing softening in market demand.
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The Marikana plant, which employed about 175 people making approximately 1,200 tyres a day, ceased production on February 1. At its peak in 1999, the plant employed more than 400.
Goodyear Asia Region tyre manufacturing director, Harold Smith said, “Unfortunately, despite the best efforts of our people and support from the local community, we have been unable to make the plant viable. The Philippines tyre market has not grown at the rate originally forecasted and the market has become highly competitive with a flood of low-cost imports from China and Southeast Asia.”
Subject to the requirements of the business, some associates may be transferred to the Las Pinas plant. Associates leaving the company will receive a closure compensation package.
In addition to the Philippines, Goodyear operates tyre plants throughout Asia, in China, India, Indonesia, Japan, Malaysia, Taiwan and Thailand.
Over the past 18 months, due to overcapacity in the global tyre industry, Goodyear has closed plants in Argentina, England, Italy and Mexico and substantially reduced production at plants in England, France and the U.S.
