Goodyear Malaysia plant to close by end-2024, 550 jobs to go

SHAH ALAM: Goodyear Malaysia's plant in Shah Alam will be closed by end-2024, under the global tyremaker's cost-cutting measures in its "Goodyear Forward" transformation programme.

About 550 jobs in Goodyear Malaysia will be affected.

In a company memo sighted on social media and online feeds, the tyremaker's Asia Pacific president Nathaniel Madarang stated that "Goodyear has made the difficult but necessary decision to close the manufacturing plant in Shah Alam, Malaysia, effective June 30, 2024 with closure expected to be complete by the end of the year."

In November 2023, Goodyear had announced cost reduction actions driving an annual, run-rate benefit of US$1 billion by the end-2025 under "Goodyear Forward" – to optimize its portfolio, deliver significant margin expansion and reduce leverage to drive sustainable and substantial shareholder value creation.

Goodyear Malaysia's website says the company's involvement here started in 1908 when The Goodyear Orient Company, a rubber buying firm, was established in Singapore to purchase rubber from plantations in Malaysia and Indonesia.

The sales of Goodyear products in Malaysia began in 1929 through the office of the Goodyear Sales Company, which was established in Singapore.

In October 1992, the company became the first Goodyear tyre plant to be certified for ISO 9002 standards.

In 2002 it obtained the QS9000 and ISO14001 certifications followed by ISO / TS 16949 certification in 2003.

Notably, Goodyear was the tyre brand to be fitted in Malaysia’s first locally produced car, Proton Saga back in 1985.

In the replacement market segment, Goodyear tires are today available throughout the country through a comprehensive network of one-stop professional tyre and car-care centers known as Goodyear Servitekar and Goodyear Autocare stores.

Started in 1979, the Goodyear Servitekar has today grown to over 250 outlets serving the needs of motorists throughout the country.
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