US - Tyre company Goodyear plans to make $1.3bn in pension contributions through 2013, more than halving its pension liabilities, the firm said.
Goodyear plans to contribute $275m in 2011, $550m in 2012 and $575m in 2013. As a result, the pension obligation will drop to $1.2bn by 2013.
Pension contributions will drop to $100m per year by 2013 after the contributions are made, Goodyear said.
The announcement came as Goodyear outlined a path to reporting a record segment operating income of $1.6bn in 2013.
It also gave details of a slightly expanded capital investment plan that sees the firm investing between $1.1bn and $1.3bn per year through 2013. The firm said between $500m and $600m each year will focus on plant modernisations, expansions and new construction.
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