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22. October 2005

INDIA: Goodyear Tire to invest $18 m in Indian operations

Source: Daily "The Hindu Business Line", New Delhi; 22 Oct 2005

New Delhi , Oct. 21 THE US headquartered Goodyear Tire & Rubber Company (GTRC) said on Friday that it would invest $18 million (Rs 80 crore) in its Indian operations in 2006 as part of its second phase of capacity expansion in the country. A statement issued here by the Indian affiliate of GTRC said that the investment would be utilised to increase production capacity for tubeless radials in the passenger tyre segment. "We not only see a robust domestic market share here, but also a potential cost competitive high quality manufacturing sourcing base for our global needs," Mr Pierre E. Cohade, President - Asia Pacific, GTRC, said. (Syed Rashid Ali, Karachi, Pakistan)

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