Goodyear says fire in Poland factory will chip away at EMEA sales

Goodyear Tire & Rubber Co. (GT) said Thursday that a fire at a factory in Poland will impact its sales in Europe, the Middle East and Africa by $20 million to $25 million in the third quarter and $10 million to $15 million in the fourth quarter. An Aug. 20 fire in the Debica, Poland, factory "significantly" damaged a portion of the tire-curing area and caused the temporary shutdown of the tire-making factory. Production has resumed but the factory is at about 70% of capacity, with a full ramp-up not expected until the end of 2024 due to the lead time in replacing damaged equipment, Goodyear said. "We are mitigating the impact on our customers by leveraging existing inventory and by increasing production at other facilities, which should help to offset lost production until Debica returns to full production," the company said.

-Claudia Assis

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09-28-23 1720ET

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