Done deal: Titan acquires CTNA's OTR plant in Ohio
Titan International Inc. has acquired Continental Tire North America Inc.'s (CTNA) OTR tire plant in Bryan, Ohio, for $53 million.
The agreement was reached on Monday, July 31.
"CTNA is pleased to have reached this agreement with Titan, a leader in the OTR tire business," says Continental AG CEO Manfred Wennemer.
"The sale of our Bryan facility is part of our overall strategy to focus on passenger and light truck and commercial vehicle tire manufacturing.
"Today’s announcement, along with our other restructuring efforts, will help us to secure our continued presence in North America for years to come."
The Bryan plant can produce up to 300 tires a day at full capacity, according to Modern Tire Dealer research. It employs 325 people.