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News Breaks | | | | February 12, 2013 | | 07:34 EDT |  | GT | Goodyear Tire to close Amiens North plant in France
The company announced on January 31 that it intends to exit the farm tire business in the Europe, Middle East and Africa region and has initiated a plan to close the Amiens North plant in France, which produces consumer and farm tires. The company has initiated required consultation with the European Central Works Council, employee representatives and other relevant bodies in the Europe, Middle East and Africa region. The action, when complete, would eliminate approximately 6 million units of high-cost capacity and result in about $75M of annual profit improvement. Additionally, due to continued weakness in the European economy and to ensure the long-term competitiveness of the company's operations in the region, Goodyear will take further steps to return its business to historical margin levels. In addition to the announced actions in France, over the next three years Goodyear is focusing on increasing its share in targeted market segments, growth in emerging markets and an additional $75M-$100M in productivity improvements across the region. | |
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