WOLVERHAMPTON, England (Oct. 7)—Goodyear G.B. Ltd. has sold its Wolverhampton manufacturing site to St. Mowden Developments Ltd. and signed a renewable 10-year rental deal with the property development firm. The deal enables Goodyear to release value from the site while securing on-going production, according to James Fraser, finance director, Goodyear-Dunlop Operations. Terms of the sale were not disclosed. The arrangement "will have no effect on day-to-day manufacturing operations at Wolverhampton," he said in a prepared statement. Goodyear has halved production and employment at Wolverhampton over the last two years, and recently transferred its sales and administration activities to a new head office in Birmingham, England.
Goodyear signs sell-and-lease deal for U.K. plant
Rubber & Plastics 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].