IDC denies seeking strategic partner for Goodyear plant amid worker uncertainty

THE Industrial Development Corporation (IDC) has denied reports that it has made an expression of interest to an identified strategic partner to take over operations of Goodyear tyres manufacturing plant in Kariega, Eastern Cape.

- BANELE GININDZA

This comes after the National Union of Metalworkers of South Africa (Numsa) on Monday announced that the IDC had made an offer to buy the plant as Goodyear was very upfront that it will not allow anybody to use their intellectual property to manufacture tyres.

However, the IDC told Business Report that it acknowledged the challenges currently facing Goodyear in Kariega and was monitoring the situation as a key stakeholder in South Africa's automotive sector.

"At present, IDC has not made any formal or informal offer to purchase, finance, or partner with Goodyear. We note recent public comments suggesting IDC’s involvement in rescueefforts and wish to clarify that no such engagement has taken place," said Tshepo Ramodibe, IDC’s head of corporate affairs.

"IDC remains committed to supporting industrial sustainability. If the Corporation is engaged to contemplate support, this will be considered through IDC’s established investment protocols and communicated through official channels and direct engagement with stakeholders and the media."