AKRON (Nov. 11)—The Antitrust Division of the U.S. Department of Justice is investigating the closure of a portion of Goodyear's Bowmanville, Ontario, conveyor belt manufacturing factory.
The shutdown began in October 2003 and stretched through mid-2004.
While full details of the probe weren't released, Goodyear said in a filing with the Securities and Exchange Commission that the Justice Department is conducting a grand jury investigation and has sought documents and other information from the company and several associates.
It did not reveal what documents and information are involved, but did say it is cooperating with the department in the probe and noted that it does not believe it has violated antitrust laws.
The plant is part of Goodyear's Engineered Products division and had employed about 120 people until the belting operation was transferred to the firm's Marysville, Ohio, factory. Engineered Products, with overall revenues of about $1.2 billion in 2003, had about $200 million in conveyor belting sales for the year.