Goodyear shares resume trading on JSX

JAKARTA: The Jakarta Stock Exchange (JSX) announced on Monday it had lifted its suspension of trading in the shares of tire producer PT Goodyear Indonesia.

Goodyear shares resumed trading on the Jakarta Stock Exchange at the start of the second session, after being suspended on Friday following unconfirmed press reports the company had stopped production and laid off its workers.

Goodyear's management had strongly denied such a report and gave a clarification to the JSX's management.

The company said the slowing production at its manufacturing plant in Bogor, West Java, was mainly due to regular maintenance work at the facility, which was needed as it operated 24 hours per day. As for the workers, nearly half of the total of 850 workers had gone on a two-week training program.

The plant produces around 2 million tires a year. -- JP