Goodyear to spend 500 mln usd to shift Dalian plant to another site

BEIJING, Jun 27, 2008 (XFN-ASIA via COMTEX) Goodyear Tire & Rubber Co said it will spend about 500 mln usd to relocate its facility in Dalian in northeast China to another site in the same port city.

Goodyear's existing Dalian plant can not be expanded as it is surrounded by residential developments, so it decided to move production to a new area in the city, it said.

Construction of the new facility is expected to be finished by late 2010, while transfer of production will be done by 2012, Goodyear said in a statement. Goodyear's current plant will then be closed completely.

Goodyear, the biggest US tire company, plans to have 50 pct of its global capacity in low cost regions by 2012.