Titan remains in the running to buy CTNA OTR plant
Titan International Inc. is continuing talks with Continental Tire North America Inc. (CTNA) about possibly buying the company's OTR tire plant in Bryan, Ohio.
"It is the goal of the parties to reach a definitive agreement for the asset purchase transaction within the next 30 days," say Titan officials.
"The asset purchase is subject to the approval of the board of directors of Titan and CTNA, CTNA's shareholders and government regulations.
"In addition, the asset purchase is contingent upon the negotiation of an agreement between Titan and (the United Steelworkers) and its Local Union No. L890L."
John Bowling, USWA Local 890L's unit chairman, says "local (union) leadership is optimistic that Titan is committed to U.S. manufacturing and maintaining our production here in Bryan."
Titan says sales at the Bryan factory are $125 million per year.