MELBOURNE, Australia (March 13)—Pacific Dunlop Ltd.´s recent restructuring of its South Pacific Tyres Ltd. joint venture with Goodyear may not be enough, the company warned shareholders recently. Saying the "outlook for South Pacific Tyres remains difficult," Pacific Dunlop said it and Goodyear are reviewing their options regarding the business. Neither firm offered further comment. The restructuring involves phasing out medium truck tire production and cutting 495 jobs, while also investing $15.6 million in quality and productivity improvements. In addition, Pacific Dunlop said it plans to divest its Pacific Automotive aftermarket distribution business. Pacific Automotive is the largest distributor of aftermarket automotive parts in Australia and the Pacific Basin.
Pacific Dunlop, Goodyear review South Pacific Tyres
Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].