SHAH ALAM - Goodyear, a leading tire manufacturer, announced the closure of its Shah Alam factory after 52 years of operation.
The closure, impacting approximately 550 employees, is part of the company's "Goodyear Forward" transformation programme.
"This was a difficult decision, but necessary to remain competitive.
"The closure aligns with our programme to reduce annual costs by US$1 billion by 2025," Goodyear Asia Pacific President Nathaniel Madarang said in a statement today.
The factory closure will be effective June 30, 2024, with the process expected to be completed by year-end.
Madarang stressed that employee well-being is a priority.
Despite the closure, Goodyear will continue serving the Malaysian market by importing tires from factories in Thailand, Indonesia, China, and Taiwan.
Goodyear's presence in Malaysia dates back to 1929.
Notably, the company supplied tires for the Proton Saga, Malaysia's first national car, launched in 1985.