Goodyear Permanently Ceases Venezuela Operations

Goodyear Permanently Ceases Venezuela Operations
A U.S. flag flies at a Goodyear Tire facility in Somerville, Massachusetts, U.S., July 25, 2017. Brian Snyder/Reuters
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CARACAS—Goodyear Tire & Rubber Co. is halting operations in Venezuela because of dire economic conditions and U.S. sanctions, the company said on Dec. 10, part of an exodus of foreign corporations from the country.

Demand for consumer goods has plummeted and firms are unable to import raw materials, leading companies ranging from Kimberly-Clark Corp. to Kellogg Co. to leave for good.