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Goodyear to Invest $1 Billion-Plus in U.S., China, S. America, Europe

06/26/2008
Goodyear Tire & Rubber Company will invest more than $2 billion over the next five years to expand and improve efficiency at facilities in six countries. The company plans to spend between $500 million and $700 million to modernize four U.S. manufacturing plants, although they are not announcing specific locations at this time. In addition, Goodyear will invest up to $500 million to increase its presence in China through expansion of its manufacturing plant in Dalian. Approximately $600 million has been earmarked to expand production at facilities in Brazil and Chile. Goodyear plants in Germany and Poland will see up to $500 million spent to modernize and expand production. At the same time, the company will close a facility in Somerton, Victoria, Australia, with a planned savings of approximately $35 million. More specific information about the U.S. locations and potential new jobs may be announced after a planned investor meeting today.

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