Titan Int'l reaches deal for Goodyear assets
Titan International agrees to acquire Goodyear farm tire assets for undisclosed sum
- On 3:37 pm EDT, Wednesday September 23, 2009
QUINCY, Ill. (AP) -- Titan International Inc., which makes off-road vehicle tires, said Wednesday that it reached a nonbinding agreement with Goodyear Tire & Rubber Co. to buy certain farm tire assets.
The assets include the tiremaker's Goodyear Dunlop Tires France Amiens North factory.
Financial terms were not disclosed.
The agreement will be subject to Goodyear Dunlop Tires France's completion of a plan related to consumer tire activity at the Amiens North facility, along with the satisfaction of other conditions and regulatory approvals, Titan said.
Titan shares rose 1 cent to $9.24 in afternoon trading, while Goodyear shares fell 14 cents to $17.03.
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