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Goodyear to close New Zealand tire factory

AKRON, Ohio, June 30 (UPI) -- The Goodyear Tire & Rubber Co. is proposing to close a New Zealand factory to save about $15 per year.

The U.S. company's South Pacific Tyres business has initiated consultations regarding closing its Upper Hutt plant, which has about 400 associates and makes about 2 million radial passenger car tires per year.

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The proposed closure is expected to be completed within six to eight months and create annual cost savings of approximately $15 million in Goodyear's Asia Pacific region, the company said Friday.

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