GOODYEAR Plant in Union City to CLOSE

GOODYEAR Plant in Union City to CLOSE

Posted in the Gadsden Forum

GTRchemical rep

United States

#1 Feb 10, 2011
CHECK TODAY'S WALL ST Journal

Watch out folks in Gadsden..update your resumes, cut backs and huge changes are coming to YOU next
GTRchemical rep

United States

#2 Feb 10, 2011
From AUTOMOTIVE NEWS:

Goodyear has announced plans to close its Union City, Tennessee, tyre manufacturing facility by the end of 2011 as part of the company's strategy to reduce high-cost manufacturing capacity globally and provide cost effective high-value-added and high quality products for customers.

The closure, when complete, will eliminate approximately 12 million units of available capacity and is the final action in plans announced in 2009 to eliminate 15 million to 25 million units of high-cost capacity globally. This action is expected to provide annual cost savings of approximately US$80m. The Union City plant currently employs around 1,900 workers.

Goodyear incurred a Q4 2010 after-tax restructuring charge related to the closure of approximately US$160m. Total after-tax restructuring, accelerated depreciation and asset write-off charges are estimated to be approximately US$270m, of which around US$140m will be cash charges.

The company's chairman and chief executive officer, Richard J Kramer, commented: "While we are committed to manufacturing in North America, all of our plants must be cost competitive and be able to demonstrate sustainable world-class productivity. That is not the case with this plant, and as a result, the market has moved beyond what the factory is able to build."

Published on Thursday, February 10, 2011
Collidge perfesser

Anonymous Proxy

#3 Feb 12, 2011
dey gots ta do sumthing ta pay dere CEO all dat money he be stikining in his pocket.
ur a fool

United States

#4 Mar 12, 2011
you gotta be a big fool to stick around this plant too= your days are numbered
union city sucks too

United States

#5 Mar 16, 2011
same fate for Gadsden probably
ICU

Fairview Heights, IL

#6 Mar 24, 2011
Cheer up...There are lots of things for uneducated facotry workers these days. Why just the other day I heard that sharecroppin is coming back into vogue. How nice because sharecroppin is a job for the whole family to work together
wonderin

United States

#7 Jul 7, 2011
When will union city plant close? Surely someone has heard!
GTRchemicalrep

United States

#8 Jul 11, 2011
How about it's closed TODAY, Monday July 11 2011
ICU

Collinsville, IL

#9 Jul 11, 2011
I saw Georgia is implementinga law to keep illegals from doing farm work like picking peaches. See there. I knew some jobs would come along for out of work tire workers
ThomasA

Jacksonville, AL

#10 Jul 11, 2011
The crops will rot in the fields. American toads are NOT going to do that work that is beneith their dignity. Uncle Sam will pay them not to work. Today's workers are an insult to those of us who chopped,hoed, and picked cotton by hand. To those who planted ,tended,and gathered crops without mechanical help, put up gardens to have food through the winter and made it on little to nothing. The next generation has a lot to learn if they have to go back fending for themselves. SAD

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