AKRON, Ohio — Goodyear Tire and Rubber has reported a US$174 million first quarter loss due to a decrease in North American sales and a labour dispute which has since been resolved.
When announcing the results, Goodyear spokesman Keith Price hinted at further plant closures. The company has already announced it plans to end tire production by the end of this year at its Valleyfield, Que. plant. However, the company said it will be opening a materials mixing center in June near Montreal. The company announced it will continue to seek ways to reduce costs.
“Additional savings are possible to the extent that production from the closed plants are transferred to existing facilities and/or are moved to low-cost countries,” CEO Robert Keegan said.
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