Goodyear Announces the Early Closure of the US Tennessee Factory

The reporter learned on July 20, 2011 that Goodyear Tire & Rubber Company announced that it had closed its tire production plant in Union City, Tennessee ahead of schedule.

The company originally planned to close the plant before the end of 2011, but decided to close it early because the work to transfer production to other plants was completed faster than expected.

Goodyear said it will account for a one-time $20 million related to this move, most of which will be reflected in its second-quarter results.

The company said it will pay severance payments to about 1,800 employees at the plant.

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