tyrepress.com reported that when Goodyear sold its steel tyre cord factories in Colmar-Berg, Luxembourg and Asheboro, US to Korea’s Hyosung Corporation in mid 2011, the tyre maker reported entering into a multi year agreement for Hyosung to supply it with finished wire products.

Now, less than 18 months after Goodyear sold the plants and the right to use certain patents and know how for USD 50 million, Hyosung Corporation has announced the closure of the Asheboro facility.

Some 310 employees will be affected by this decision.

Source - tyrepress.com

(www.steelguru.com)