Goodyear to Boost Chinese Investment
Goodyear Tire & Rubber Co is to increase investment at its plant in northeast China by more than 10 per cent between now and 2007. The move is designed to offset rising raw material costs, by increasing the production of premium products, according to the company’s Asia Pacific president, Pierre Cohade. Goodyear hopes to profit by sales of replacement tyres, which now account for about half of China’s tyre market and are growing “sizeably” as Chinese drivers buy new tyres, Mr Cohade told Reuters.