The plant closure is primarily due to overall facility performance within the increasingly competitive international tire market. This difficult decision follows a multi-year analysis of the company's financial situation and general market conditions.
It appears this decision was made by the Japanese owner's board without any discussion with local and state officials about the possibility of closure.
Sumitomo had recently invested $140 million in the facility, including $129 million in 2022, according to Erie County Executive Mark Poloncarz.
Although tire production has ended, overall operations will wind down over the next one to two years, the company said.
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