Retail

USWA: 'Titan-Goodyear deal depends on new contract'

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Titan International Inc.'s planned acquisition of Goodyear Tire & Rubber Co.'s North American farm tire unit "will require Titan to negotiate a new union contract with the United Steelworkers of America prior to the closing of the sale," say union officials.

"Goodyear and Titan understand that our current contract with Goodyear contains a successorship clause that mandates that the prospective buyer negotiate a new contract acceptable to our union prior to the completion of any sale," said USWA Executive Vice President John Sellers.

Earlier today, Titan announced that it has entered into an agreement to buy Goodyear's ag tire business for $100 million.

Titan plans to offer Goodyear as its premium farm tire brand.

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