DEBICA, Poland (Feb. 26, 2008) — Goodyear said it will nearly triple production capacity for radial truck tires at its T.C. Debica plant in Debica at a cost of more than $200 million.
The increase will push production to 5,000 units daily as part of a plan to increase its ownership stake in the company.
The investment will require the approval of Debica's management board and also probably will involve assistance from Polish national and regional authorities, Goodyear said. The project will add 350 to 400 jobs at the facility.
Goodyear is budgeting about $40 million to $45 million to buy additional shares in the company, listed on the Warsaw stock exchange, to boost its stake to 66 percent from 59.9 percent. Goodyear—which first acquired a stake in Debica 13 years ago—said it plans to offer to buy all outstanding shares during the next 18 months.