Friday, June 10, 2011

Goodyear Moving Operations to South Korea ! .

Associated Press

Goodyear Sells Tire Wire Business to Hyosung

AKRON, Ohio --

Goodyear Tire & Rubber Co. said on Friday that it has agreed to sell its tire reinforcement wire business to South Korea's Hyosung Corp. for $50 million.
The business makes the wire at facilities in Asheboro, N.C. and Colmar-Berg in Luxembourg, and employs about 600 people. Goodyear said the two companies will also sign a multi-year supply agreement when the deal closes, expected in the third quarter. The deal requires government and regulatory approvals.
Goodyear said the sale is not expected to result in a significant gain or loss. Hyosung is based in Seoul and has made tire reinforcements since 1968. It bought Goodyear's global tire fabric operations in 2006.

Editorial : Can this be interepted as more USA job losss ? Ask those in Asheboro N.C. ? I think it does ! I`m sure the Union caused it. *ROFLMAON*! Is Goodyear to become the Wal-Mart of the Tire business ? Kinda looks like it.

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