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Goodyear expected to announce new factory

Tire plant in San Luis Potosí would represent $550-million investment

A new US $550-million tire factory will be announced tomorrow in Mexico City, Reuters reported this morning.

Goodyear Tire & Rubber Company said last May it was planning a new consumer tire plant for North America to serve replacement and original equipment markets in North and Latin America. Initial production capacity was to be six million passenger and light truck/SUV tires per year.

The company declined to comment on the report of tomorrow’s announcement, which came from two sources familiar with the plans, Reuters said.

The factory is expected to be built in the state of San Luis Potosí and begin operating in 2017. It would be the company’s first in North America in 25 years, since it opened a factory in Napanee, Canada, in 1990.

Headquartered in Akron, Ohio, Goodyear has facilities in more than a dozen countries.

Tomorrow’s announcement would be the third in just over one week. Toyota Motor Corp. and Ford Motor Company last week announced assembly plants worth $1 billion and $2.5 billion, respectively.

Source: Reuters (en)

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