Goodyear invests 30 million dollars in India

Goodyear Tire & Rubber Company will invest 30 million US dollars to ease the debt burden of its Indian arm. The funds would be invested through the external commercial borrowing route in Goodyear India to retire high cost debts in favour of low cost borrowings. “India is an important market for Goodyear.

We continue to seek ways to introduce tyre technology,” said Antonio Canallini, chairman and managing director, Goodyear Tire & Rubber Company, India. The joint venture company Goodyear South Asia Tyres Ltd. has recently augmented production capacity by 25 per cent at its Aurangabad facility.