Akron Beacon Journal staff report
Goodyear Tire & Rubber Co. said it lost $174 million for the first quarter ending March 31 because of costs related to the 86-day United Steelworkers strike in late 2006.
Sales were up 1 percent to $4.5 billion, the
The company said it has reduced the cost estimates on its North American Tire division to between $100 million and $120 million for 2007, down from previous estimates as high as $230 million. The company said it is recovering from the Steelworkers strike faster than it had anticipated.
Goodyear is raising its cost-savings goal from more than $1 billion by 2008 to as much as $2 billion by 2009.
