Goodyear shares resume trading on JSX

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