Goodyear near deal on China tire plant: mayor
DALIAN, China (Reuters) - Top tire maker Goodyear (GT.N) is in final talks to invest more than $1 billion in a manufacturing plant near the Chinese city of Dalian this year, the city's mayor told Reuters on Thursday.
Goodyear would join rivals Michelin (MICP.PA), Continental AG (CONG.DE) and Bridgestone Corp (5108.T) in setting up or expanding production in the world's second-largest auto market, as global players target emerging economies from China and India to Russia.
Dalian Mayor Xia Deren said in an interview that Goodyear and the city's government had finalized an investment plan and would sign an agreement soon.
Under the plan, Goodyear would set up a plant in the Beishan area and hire more than 2,000 employees for a factory that would sell both domestically and for export.
"Although we haven't signed a contract yet, preparation work by both sides is nearly finished," the mayor said.
The project awaits State Council, or cabinet, approval before it can go ahead, so Xia did not divulge further details.
Goodyear said it was considering an investment in Dalian but no decision had been made.
"We're exploring many opportunities in Asia, and yes, Dalian is one of them. But we're also looking at others," said Ron Castro, director of communications for Asia Pacific.
"Once our decisions are finalized, we will make appropriate public announcements on our investment plans."
(Writing by Edwin Chan; Editing by Edmund Klamann)
