Goodyear completes Dackia purchase
Goodyear Dunlop Tires Europe, a Goodyear Tire & Rubber Co. affiliate, has completed its purchase of Swedish tire retail group Dackia.
Goodyear originally acquired 50% stake in Dackia in 1996 and paid $10 million for the remainder.
Dackia has more than 60 company-owned stores, plus 31 "contract partners" throughout Sweden, according to Goodyear officials.
Its annual sales revenue is $65 million.
"Dackia will play an important role in our plans for growth," says Michael Roney, president of Goodyear Dunlop Tires Europe.
The acquisition "strengthens the company's position in the Nordic Region," say Goodyear officials.
Goodyear's European Union tire business during the first quarter of 2004 was up 20% over last year, while its segment operating income rose more than 175%.