Former Goodyear plant reactivates years after closure due to economic crisis in Venezuela
More than seven years after ceasing operations, the former Goodyear tire plant in Venezuela has resumed production at a time when authorities are promoting private investment to revive the nation's struggling industry. After Goodyear, headquartered in Ohio, USA, agreed to close on December 10, 2018, then-deposed President Nicolas Maduro deemed the halt in activities illegal, took control of the abandoned facilities, and began a process to restore production at the plant located in Los Guayos, Carabobo state.
TL;DR
- The former Goodyear tire plant in Venezuela has resumed production after more than seven years.
- The plant was closed by Goodyear in December 2018 due to economic conditions.
- The facility was taken over by the Venezuelan government and is now called Parque Industrial Caucho.
- Private investment, including from Brazilian, Chinese, and Bolivian investors, totals over 24 million euros.
- The plant aims to produce 25,000 tires monthly initially, targeting over 75,000 in the latter half of the year.
- It will also produce motorcycle tires, which are currently entirely imported.