Goodyear Dunlop Tyres UK has confirmed its factory in Wolverhampton will definitely close with more than 300 job losses.
The company announced the potential closure in June, bringing to an end nearly 90 years of history.
The plant, which carries out mixing and retreading operations, will be closed in phases with the first round of redundancies expected on 31 December 2015.
Production will end completely by the beginning of 2017.
In a statement, a Goodyear spokesman said: "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.
"Closure will happen on a phased basis. The first roles to be made redundant are likely to occur on 31 December 2015, with anticipated production at the plant ending no earlier than January 2017.
"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."
Dunlop said it has not reached an agreement with unions on the redundancy settlement for those affected by this decision.
The spokesman added: "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."