Goodyear completes South Pacific purchase
Goodyear Tire & Rubber Company has completed its previously announced acquisition of Ansell Limited's interest in the companies' South Pacific Tyres joint ventures.
Goodyear now owns 100% of South Pacific, which it calls "the leading tire marketer and manufacturer in Australia and New Zealand."
"This move strengthens Goodyear's position in these countries and
enhances its flexibility and earnings growth prospects in the
Asia/Pacific region," says Pierre Cohade, president of Goodyear's
Asia/Pacific business unit.
Formed in 1987, South Pacific has 4,000 employees and annual sales of more than$700 million.
Its results have been consolidated with those of Goodyear's Asia/ Pacific region since January 2004.