From Reuters
NEW YORK -- Goodyear Tire & Rubber Co., the largest U.S. tiremaker, said it will close plants and increase sourcing from Asia, cutting costs by $750 million to $1 billion over the next three years.
The tiremaker said it would take cash charges of $150 million to $350 million for the restructuring, which will include selling more non-core assets.
Goodyear expects to cut high-cost manufacturing capacity by 8 to 12 percent to generate savings of about $100 million to $150 million per year. It did not say how many plants it would close or where they are located.
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