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April 26, 2013
07:33 EDTGTGoodyear Tire sees FY13 global operating income $1.4B-$1.5B
Goodyear is forecasting its 2013 tire unit volumes to be essentially at 2012 levels as a result of weak industry conditions, especially in Europe. For the full year of 2013 in North America, Goodyear now expects consumer replacement to be at essentially 2012 levels. The company's full year 2013 outlook in other North American market segments is unchanged. It expects consumer original equipment volumes to be up approximately 5 percent, while commercial replacement and original equipment are both expected to remain at about 2012 levels. For the full year in Europe, Middle East and Africa, Goodyear now expects consumer replacement to be at essentially 2012 levels. The company's full year 2013 outlook in other Europe, Middle East and Africa market segments is unchanged. It expects consumer original equipment volumes to be down approximately 5 percent, commercial replacement to be up approximately 5 percent and commercial original equipment to be flat to up 5 percent.
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June 25, 2015
09:08 EDTGTGoodyear Tire to close Wolverhampton, U.K., facility, cut 360-390 positions
The Goodyear Tire & Rubber Company said in a regulatory filing that on June 23, it approved rationalization plans in its Europe, Middle East and Africa strategic business unit in order to strengthen the company’s global competiveness. The rationalization plans include closing the Wolverhampton, United Kingdom mixing and retreading facility and transferring its production to existing manufacturing facilities across EMEA. The plans also include the transfer of consumer tire production from the manufacturing facility in Wittlich, Germany to existing manufacturing facilities in EMEA. These plans, which will result in a net reduction of approximately 360 to 390 associate positions, remain subject to consultation with relevant employee representative bodies.The company expects to be substantially complete with these rationalization plans by the end of 2016 and estimates total charges associated with these actions to be between $70M-$80M, or $60M-$70M after taxes and minority interest, of which $55M-$60M is expected to be cash charges primarily related to severance payments and contractual obligations and approximately $15M-$20M is expected to be non-cash charges primarily related to accelerated depreciation and other asset related charges. The company expects to record approximately $30M of charges in the second quarter of 2015 associated with these plans. Charges of approximately $10M are expected to be recognized in the second half of 2015.Once completed, these actions are expected to improve EMEA segment operating income by approximately $30M annually, beginning in 2017.

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