Tyre manufacturer Goodyear has confirmed it is closing its plant in Wolverhampton.

The company announced in June it was consulting on the possible closure of the factory in Bushbury Lane, placing 330 jobs at risk.

The facility specialises in mixing and retread and the decision to close the factory was in response to changing market conditions, the company said in the summer.

Goodyear said in a statement today: "Following a collective consultation period with our employee representatives and unions, the company has now reached a decision to implement its proposal to close its Wolverhampton mixing and retreading facility.

"It is important to understand that no alternatives to the company's proposal have been made.

"During the coming months, our focus is to find responsible and fair solutions for the employees affected by this decision, including the opportunity to apply for vacancies at our other locations.

"We have not, however, reached an agreement with the union on the redundancy settlement for those affected by this decision. The company has recommended involving ACAS in order to finalise the settlement.

"We will continue to work closely with our unions and the taskforce group to put together a package of support for those employees that cannot transfer to other roles in the company.

"This taskforce will work together on providing outplacement support, including careers guidance, interview skills preparation and pension planning."

The closure will be phased and the first roles to be made redundant are expected to go at the end of December while work at the factory is not expected to end before January 2017.

More than 1,600 people signed a petition during the summer against Goodyear's plans to close the plant which has brought to an end an association with the city spanning nine decades.