Sumitomo Rubber Industries is closing its factory in Tonawanda, N.Y., and dissolving its Sumitomo Rubber USA subsidiary there, resulting in the loss of over 1,500 jobs.

Citing its inability to make tires profitably at its Tonawanda, N.Y., factory, Sumitomo Rubber Industries has decided to close the 102-year old factory which has 1,300 hourly workers.

Tonawanda, N.Y. — Sumitomo Rubber announced Thursday 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.

Tonawanda manufacturing facility in New York is to cease operations following an extended examination of its viability. Approximately 1,550 hourly (union) and salaried (non-union) employees will

Sumitomo Rubber on Thursday announced via its website that it will be closing the facility in Tonawanda. The plant previously manufactured tires for cars, trucks, buses and motorcycles. According to a release on the company’s website,

Senior Reporter Eileen Buckley reports live from outside the Sumitomo plant in the Town of Tonawanda. Biden might want to crimp Iranian and Russian oil revenue once he doesn't have to worry so much about gasoline prices at home.