Goodyear Reportedly Plans Tire Plant in Mexico

Goodyear Tire & Rubber Co. plans to open a tire plant in Mexico in 2017, a source tells Reuters. The facility will be Goodyear's first in Mexico, according to the company's Web site.

The $550 million facility in San Luis Potosi, which may be announced on Friday, will make tires primarily for the local market, according to Reuters' source.

Last May Goodyear announced plans to build its first new tire plant in the Americas since 1990. The company said at the time the factory would open in 2017 and have initial capacity to make 6 million "high value-added" tires.