Goodyear plans to close its chemical manufacturing plants in Niagara Falls, New York, and Bayport, Texas, the two facilities it retained following the sale of most of its chemical business in 2025.
The company approved the closure plan on 29 September and disclosed it in an SEC filing dated 1 October. The programme includes approximately 85 job reductions and is expected to be substantially completed by the end of 2027. That deadline covers the overall programme rather than confirmed production shutdown dates for each plant.
Goodyear estimates total pre-tax charges of $55 million to $75 million. Around $30 million would be cash charges, mainly for decommissioning, employee-related costs and other exit expenses. The remaining charges would primarily relate to accelerated depreciation and other asset costs.
The company expects the changes to improve annual Americas segment operating income by approximately $15 million to $20 million from 2027. These figures are company estimates.
The closures follow Goodyear’s disposal of its polymer chemical business to a Gemspring Capital affiliate, completed on 31 October 2025. That transaction included chemical plants in Houston and Beaumont, Texas, and a research and development facility in Akron, Ohio.
Tyre News Media’s May 2025 report noted that Niagara Falls and Bayport would remain under Goodyear’s ownership. The new plan therefore covers the two plants excluded from that earlier disposal.
The completed sale included a 15-year agreement for the purchaser to supply Goodyear with certain polymer chemical products. However, that agreement does not establish how products from the two closing plants will be supplied. The closure filing does not set out those arrangements.
Tags: Goodyear, Goodyear Chemical, chemical plant closures, Niagara Falls, Bayport, Gemspring Capital, tyre manufacturing, polymer chemicals, chemical business sale, US manufacturing
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