'Many issues' block Titan's purchase of Goodyear ag unit
"There are many issues yet to be resolved with the local union" concerning Titan International Inc.'s pending purchase of Goodyear Tire & Rubber Co.'s farm tire division, Titan Executive Vice President Ernest Rodia told moderntiredealer.com this afternoon.
Titan hopes to have a new contract with the United Steelworkers covering Goodyear's Freeport, Ill., farm tire manufacturing plant by the end of next month.
According to Goodyear's current contract with the Steelworkers, Titan, as a potential buyer, must first forge a new labor agreement with the union before it can buy the plant.
Earlier this year, Titan announced its intention to buy Goodyear's ag tire unit for $100 million.
Titan officials say the international union has already approved the transaction.