The Goodyear Tyre Company says to cut losses, it will close two factories in Britain and Poland and lay off 1,500 workers in Europe and the
The firm lost 41 million euros in the final three months of last year, mostly due to massive increases in the prices of oil and rubber, the major ingredients of tyres.
All manufacturers are facing the same problems. Goodyear is the world’s third largest with 17% of the market, just behind Japan’s Bridgestone and the French company Michelin is the leader with 20%.
Nearly 600 people will lose their jobs with the closure of a car tyre factory at Washington in north east England. Some output from there may be switched to a plant in Germany.
Car tyre production will continue in Poland .. but bicycle tyres will no longer be made there.