U.S. tire manufacturing company Goodyear Tire & Rubber Co. plans to renovate and transform its two Goodyear Dunlop tire plants in Germany with $122 million investment.
Goodyear Tire intends to upgrade the factories in Hanau and Fulda to advance their competitiveness as well as boost production of premium consumer tires that are 17 inches and larger in diameter while ending production of smaller tires.
The company said that the upgrades, expected to improve factory productivity, are anticipated to be finalized in 2022.
Goodyear Tire’s Europe, Middle East and Africa, segment annual operating income is anticipated to increase by $60 million to $70 million over a three-year period beginning in 2020.