The US tire-maker Goodyear has set up a regional hub in Dubai’s Jebel Ali Free Zone, and plans to use its new facility to double its business in the Middle East and North Africa, reported Gulf News.
Currently, the Middle East and North Africa tire market is estimated to be worth one billion dollars, and Goodyear holds a 10 percent share. In contrast, the company holds a 22 percent share of the worldwide market.
Goodyear’s Middle East and North Africa division was set up 18 months ago, and initially managed from Belgium. The Dubai operation will join the company’s three other overseas hubs, with the others being responsible for Asia, Latin America and Europe.
The decision to open the regional hub was related to a forecast by the company that the Middle East and North Africa represent one of the fastest growing markets for automobile parts in the world. During 2001, Goodyear expects to see its sales in the region increase by about 25 percent to $125 million.
Goodyear’s hub in the Jebel Ali Free Zone will focus exclusively on marketing, distributing and service. At present, there are no plans to set up a factory in this region. Goodyear currently operates 90 plants in 27 countries. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)
