Goodyear will be shutting down its manufacturing plant in Shah Alam, effective June 30, 2024. The difficult but necessary decision was made by Goodyear to optimise its footprint and portfolio, deliver significant margin expansion and create shareholder value. The Shah Alam plant closure will affect 550 jobs in Malaysia and is expected to be completed by the end of 2024.
The decision only affects the manufacturing plant for Goodyear in Malaysia. Goodyear tyres will continue to be sold in the country. Goodyear’s manufacturing plant in Shah Alam has been operational since 1972, making more than half a century old.
In an internal statement, Goodyear Asia Pacific President, Nathaniel Madarang said, “As you [Asia Pacific Associates] know, Goodyear Forward is a transformation program designed to optimise our footprint and portfolio, deliver significant margin expansion and create shareholder value. This program includes specific actions to deliver annualised cost reductions of USD1.0 billion by 2025, ensuring we remain competitive and positioned as an industry leader.”
“As part of these efforts, Goodyear has made the difficult but necessary decision to close our manufacturing plant in Shah Alam, Malaysia, effective June 30, 2024, with closure expected to be complete by the end of the year.”
“As with any facility closure, there will be an associate impact, and in this case, approximately 550 positions in our Malaysia operations will be affected. We are committed to treating our associates with respect and transparency during this process.”
“These decisions are not made lightly, but we need to take them to advance the long-term interests of both our business and customers. Thank you for your continued focus on delivering results and for all you do to make Goodyear successful.”
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