Dębica to cut back tire production in Nov-Dec
12:29
Polish tire company Dębica has decided to roll back production of tires for cars and trucks in November and December this year. This will lower the projected production for 2016 by 3.02 percent for car tires and 3.86 percent for truck tires, compared to the production plans for 2016, the company announced.
“The board's decision was taken as a result of information received from one of the company's key export customers, Goodyear, about a reduction in November and December 2016 in orders for tires produced by the company,” Dębica explained.
Production of car tires will be cut 23.19 percent in November and 43.25 percent in December, while truck tire production will be cut 5.22 percent and 33.81 percent. Dębica indicated that these production cutbacks may have a negative impact on the company's financial results.
Since 1995, Dębica's strategic investor has been the US-based Goodyear Tire & Rubber Company, which owns 81.4 percent of the share capital of the Polish tire firm. Dębica sells its products in Poland and 60 countries worldwide.
