Goodyear to Close Plant in France

Goodyear Tire & Rubber Co. says it will shutter a tire factory in Amiens, France, that is losing about €61 million ($83 million) per year.

The Akron, Ohio-based company did not set a date for the closing, which will eliminate 1,170 jobs about 39% of its workforce in France. Goodyear says five years of union negotiations in Amiens have failed to achieve concessions that would enable the plant to return to profitability.

The company attributes the losses to competition from Asian tiremakers and weak demand in Europe. Goodyear says demand is especially weak for Amiens' output: tires for agricultural machinery and low-end tires for cars.