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Goodyear will boost high-end capacity

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Goodyear Tire & Rubber Co. plans to increase its high-end tire capacity by 40% over the next five years, Goodyear Chairman and CEO Bob Keegan told investors earlier today, April 27.

Boosting its high-end tire capacity is one of the Akron, Ohio-based tiremaker's strategic goals, he explained.

Keegan also discussed Goodyear's Asian sourcing initiatives.

"When we talk about Asian sourcing, we're talking multiple categories: sourcing of finished tires, sourcing of raw materials and we're talking about capital equipment."

Goodyear has an office in Shaghai, China.

In addition, Keegan told investors that Goodyear expects to see $1.8 billion to $2 billion in gross cost savings by the end of 2009.

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