The Goodyear Tire & Rubber Company, an American multinational tyre manufacturing company, is expanding its production capacity through a US$485-million investment in the expansion of its state-of-the-art tyre factory in Pulandian, Dalian, China.
Upon the expansion’s completion in 2020, the plant’s capacity is expected to increase by about 5 million tyres a year which will enable Goodyear to meet the strong and growing market demand for premium, large-rim-diameter consumer tyres in China and the Asia Pacific region.
By 2020, Goodyear expects tyres with rim diameters of 17 inches or greater to account for nearly 60%of its replacement tyre sales volume in China.
“This investment in our Pulandian factory speaks to our long-term strategy of pursuing sustainable growth in the Asia Pacific region and increasing Goodyear’s presence in high-value segments of the global tyre market that are growing at rates above the total industry where we can capture the value of our brand,” Goodyear Chairman, Chief Executive Officer and President Richard J. Kramer said.
According to Chris Delaney, president of Goodyear’s Asia Pacific Tire Business, the latest investment in Pulandian strengthens the company’s presence in China. “As one of our most important and key growth markets, our global brand and innovative product portfolio in China will gives us a competitive edge,” Delaney added.
Goodyear was the first global tyre manufacturer to enter China when it invested in a tyre manufacturing plant in Dalian in 1994. The company moved production to the new Pulandian factory in 2012 and opened its new China Development Centre on the Pulandian campus in 2015 to increase the speed and efficiency of developing high-quality premium tyres for China-based auto manufacturers.