Bridgestone Firestone North American Tire LLC's Oklahoma City, Okla., passenger and light truck tire plant lost $40 million last year, Steve Brooks, vice president of manufacturing operations for BFNT, has told moderntiredealer.com.
Projected losses for the full year of 2006 will be in the $60 million range, he says.
"We've made $40 million (in) investments over the last three years in order to keep up" with changing market demands, according to Brooks, but the 37-year-old facility remains awash in red ink.
BFNT will begin good faith bargaining with the United Steelworkers, who represent more than 1,000 workers at the Oklahoma City plant.
