Goodyear Closing Malaysia Plant

Goodyear Tire & Rubber Co, one of the world’s largest tire makers, plans to shut down its plant in Malaysia on June 30 – a decision expected to affect more than 500 employees, the company and Malaysia’s investment promotion agency said.

Goodyear said the decision to shutter the plant in the Shah Alam district in Selangor state – which opened in 1972 – was part of its Goodyear Forward corporate restructuring program, aimed at delivering $1 billion in cost reductions by 2025. …