Tire manufacturer Bridgestone Americas is closing its LaVergne, Tennessee, truck and bus radial tire plant and laying off 700 workers there, the company announced in a news release.

Bridgestone said the closure will help the company “optimize its business footprint” and “strengthen its competitiveness.”

In addition, Bridgestone announced capacity and workforce reductions at its Des Moines, Iowa, agriculture tire plant and additional workforce reductions in U.S. corporate, sales and operations. In Latin America, it plans reductions in workforce and production capacity in Argentina and Brazil.