Goodyear Plans to Reopen 'Majority' of Plants by End of May
Goodyear Tire & Rubber Co. has started the "limited ramp-up" of its commercial truck tire plants in the United States, Goodyear Chairman, CEO and President Rich Kramer told investors today.
The company expects that "the majority" of its manufacturing plants will resume operations by the end of May.
"Decisions regarding production will be based on an evaluation of market demand signals, inventory and supply levels, as well as the company’s ability to safeguard the health of its associates," say company officials.
Goodyear says its plant in Pulandian, China is operating "with 100% of its workforce, but is not yet operating at full capacity. The facility is expected to continue ramping up production during the second quarter.
"Goodyear continues to evaluate its production plans around the world in light of the COVID-19 pandemic."
The Akron, Ohio-based tiremaker reported today that it suffered a net loss of $619 million during the first quarter of 2020 versus a net loss of $61 million during the same period last year.