Goodyear has announced that the company is planning to invest USD 36 million in increasing its capacity to produce off-the-road tires and to fund process improvements at its factory in Luxembourg. The company has a manufacturing facility in in Colmar-Berg, Luxembourg.
Commenting on the decision, David Anckaert, VP of Goodyear commercial Europe, said that the demand for premium OTR tires is slated to grow across the globe due to large-scale expansion of mining and construction operations, and developments in the port and industrial segments.
Anckaert said that this important investment in the company’s operations will make it possible for Goodyear to cater to the growing demand. As an outcome of this investment, Goodyear will be able to provide better service for tending to the daily operations of its customers in the field. It will have a complete portfolio of high-quality products and will be able to offer total mobility solutions both for trucks and off-the-road machines.
Goodyear did not give any further details of the impact that this investment would have on the number of employees or the capacity at its production facility in Luxembourg. The Luxembourg plant was set up in 1951 and specializes in the production of medium truck tires and OTR tires.
Currently, Goodyear is constructing a second factory in Luxembourg which will deal with the production of premium passenger tires. At this new plant for which it broke ground in 2017, Goodyear will use “additive manufacturing technologies” to produce premium tires in small-batch quantities on-demand.
The company is investing USD 77 million in the passenger car tire facility, which will create 70 jobs and will make approximately 500,000 tires annually.
Manju Mathew, an MBA in marketing, completed publisher training courses from the Oxford Brookes University and New York University. She started with marketing and PR roles before moving on to her current position as a full time writer. Currently living in Dubai, her life as an expat has sharpened her observation skills and flair for writing. She enjoys writing about luxury cars like Ferrari, Lamborghini, etc even if she can only dream of owning them.
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