The Purcell Tire & Rubber Co. has signed a definitive agreement and closed on its acquisition of the assets of Goodyear Tire & Rubber Co.'s Wingfoot OTR Retread Business.
The two Wingfoot plants, located in Minnesota and North Carolina, manufacture a combined 40 OTR retreads a day, according to Modern Tire Dealer's "Top 100 Retreaders" list.
The acquisition of the OTR Retread Business is a key step in Purcell’s strategic business plan, says the company, and will increase the size of one of its core business segments from 120 OTR retreads per day to 160 per day.
Purcell already was the largest OTR tire retreader in the U.S.; the acquisition jumps the company from number three on the "Top 100 Retreaders" list (which includes truck and light truck tire retreads as well) to number two, behind Goodyear and ahead of Bridgestone Bandag Tire Solutions. Purcell also produces an average of 1,300 medium truck tire retreads per day.
“This acquisition is a win for new and existing customers,” says Keith Butcher, executive president of Purcell Tire. “This is a core business for Purcell Tire and we are committed to investing and growing this business. We continue to invest in retreading as a cost-effective and environmentally friendly product class for our OTR customers.
"Our customers have felt the effects of a challenging economic cycle -- as we have -- and it is our responsibility as good partners to do anything we can to help them optimize their operations.”
"We've made a significant investment in helping our customers recycle tires and save money," says Purcell Tire founder Bob Purcell. "Recycling tires, especially large OTR tires, reduces costs and saves resources.
"By helping our customers to reduce operating costs, we are also helping them reduce their carbon footprint," he adds.
Purcell Tire will operate the business out of its centrally located, state-of-the-art manufacturing facility in Potosi, Mo. The addition gives Purcell seven retread plants in the United States. They feature Goodyear's Unicircle, precure, mold cure and Flexcure processes.
