AKRON, Ohio (AP) _ Goodyear Tire & Rubber Company plans to invest at least $1 billion annually through 2010 to expand and improve plants and focus more on international growth markets.
The Akron, Ohio-based company Thursday, June 26 outlined its strategy during an investors' conference in New York.
The biggest U.S. tire maker and third largest globally said it will invest up to 500 million dollars to increase tire manufacturing in China for the Asia-Pacific market.
Goodyear will also invest up to $600 million to expand production in Brazil and Chile, and about $600 million to update and expand facilities in Germany and Poland.
It also will spend up to $700 million over five years to modernize manufacturing plants in Topeka; Fayetteville, North Carolina; Gadsden, Alabama; and Danville, Virginia.