Titan forges ahead with plans to buy OTR plant
Titan International Inc.'s planned acquisition of Continental Tire North America Inc.'s OTR tire plant in Bryan, Ohio, "is rolling along," says Titan Chairman and CEO Morry Taylor.
Taylor did not specify when Titan hopes to close the deal. "It's not done until it goes through ratification," he told moderntiredealer.com.
Titan must first forge a new labor contract with the United Steelworkers before it can buy the factory, which has been on the selling block for more than a year.
The Bryan factory can produce 300 OTR tires a day at full capacity, according to Modern Tire Dealer research.
In late February, Continental received a memorandum of understanding from Titan regarding Titan's desire to buy the plant.