Sumitomo Rubber closing western New York tire plant and cutting 1,550 jobs

TONAWANDA, N.Y. (AP) — Sumitomo Rubber says it will close its western New York tire manufacturing plant and eliminate all 1,550 union and salaried jobs. The Japan-based company said attempts to control costs, along with investments in the aging facility, had failed to offset mounting financial losses. The closure was announced Thursday. It brings an end to tire manufacturing at the site after more than 100 years. Efforts to save the Tonawanda plant, near Buffalo, included trying to find a buyer for it, the company said, but there were no offers. Although tire production has ended, Sumitomo says other operations will wind down over the next one to two years.