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Goodyear Malaysia to shut down Shah Alam plant, impacting 550 jobs | Scoop
Goodyear Malaysia says the closure of its Shah Alam plant, effective June 30, aims to optimise its footprint and portfolio, delivering significant cost reductions to ensure competitiveness. – Goodyear pic, March 7, 2024
News

Goodyear Malaysia to shut down Shah Alam plant, impacting 550 jobs

Company says decision part of transformation programme to deliver annualised cost savings of US$1.0 bil by 2025

Scoop Reporters
Updated
8:36 AM MYT

 

KUALA LUMPUR – Goodyear Malaysia will be closing its 52-year-old manufacturing plant in Shah Alam effective June 30, which is expected to be completed by year end, affecting 550 jobs.

In a leaked internal memo, The Goodyear Tire & Rubber Company’s Asia Pacific president, Nathaniel Madarang, said the closure is part of the company’s “transformation programme”.

“As you know, Goodyear Forward is a transformation programme designed to optimise our footprint and portfolio, deliver significant margin expansion and create shareholder value.

“This programme includes specific actions to deliver annualised cost reductions of US$1.0 billion by 2025, ensuring we remain competitive and positioned as an industry leader.

“As part of these efforts, Goodyear has made the difficult but necessary decision to close our manufacturing plant in Shah Alam, Malaysia, effective June 30, 2024, with closure expected to be complete by the end of the year.”

He added that approximately 550 positions in its Malaysia operations will be affected. 

According to its corporate site, Goodyear’s involvement in the region dates back to 1908, when The Goodyear Orient Company, a rubber buying firm, was established in Singapore to purchase rubber from plantations in Malaysia and Indonesia. 

The sales of Goodyear products in Malaysia began in 1929 through the office of the Goodyear Sales Company, which was established in Singapore.

The Shah Alam plant itself was established in 1972.

Goodyear was also the tyre brand to be fitted in Malaysia’s first locally produced car, the Proton Saga, in 1985.

In 2022, Goodyear reached an agreement to settle a labour dispute at its Shah Alam factory with migrant workers who alleged unpaid wages and benefits.

It was reported that each worker settled for between RM50,000 and RM200,000, depending on the length of their employment. – March 7, 2024

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