Sumitomo Rubber Closing Western New York Tire Plant

Sumitomo Rubber announced Thursday it will close its western New York tire manufacturing plant and eliminate all 1,550 union and salaried jobs.

The Japan-based company said attempts to control costs, along with investments in the aging facility, had failed to offset mounting financial losses.

“The plant closure is primarily due to overall facility performance within the increasingly competitive international tire market. This difficult decision follows a multi-year analysis of the company’s financial situation and general market conditions,” Sumitomo said in a statement. …

Source: The Canadian Press