Philippines Plant Closure For Goodyear

Goodyear has announced the closure of its factory at Marikina in the Philippines on February 1st. Overcapacity and weakening demand were cited as the reasons. The plant employed 175 people and produced 1,200 tyres a day.

Goodyear Asia Region tyre manufacturing director Harold Smith said that the Philippines tyre market was highly competitive “with a flood of low-cost imports from China and South East Asia.” The company has another factory in the Philippines, at Las Pinas, and some associates from Marikina may transfer there..