DEBICA, Poland (June 6, 2012)—TC Debica S.A. said it is cutting production of consumer and agricultural tires, the second time this year it has reduced output.
The company, which is majority owned by Goodyear, announced it will slice production by another 4 percent for passenger tires and about 6 percent for farm tires in reaction to reduced orders from Goodyear.
Debica's management board said Goodyear, the key exporter of its tires, cited weak demand in the European markets.
Debica told investors in March that it would cut production of truck tires by about 10 percent and agricultural tires 4.5 percent compared with the schedule prepared earlier in the year. The March reductions reduced annual output of truck tires by 1 percent and farm tires by 0.5 percent, Debica said at the time