goodyear 8K Reports 06/26/08

The document announces Goodyear's plans to close its tire manufacturing plant in Somerton, Australia by the end of 2008. This is expected to eliminate 3 million units of high-cost capacity annually and provide $35 million in annual cost savings. Goodyear estimates charges of $125 million, including $85 million in cash charges and $40 million in non-cash charges, associated with the planned closure. Charges will be recognized in 2008 through 2010. Goodyear also discusses strategies to capitalize on growth in high-value tires and emerging markets and plans to increase cost savings targets through supply chain efficiencies and back office reductions.