More on the Goodyear-Akron agreement

Dec. 5, 2007

As part of its tentative agreement to stay in Akron, Goodyear Tire & Rubber Co. will sign a 20-year lease with real estate developer Industrial Realty Group (IRG), which plans to buy most of Goodyear's property in the city.

The announcement was made earlier today at Goodyear's global headquarters.

Also as part of its agreement to remain in Akron, Goodyear has committed to keeping 2,900 jobs at its "Rubber City" site, which includes one of the its technical centers.

The Goodyear board of directors "has approved a tentative agreement between Goodyear and (IRG) that when finalized, will keep Goodyear in Akron for decades to come," said Goodyear Chairman and CEO Bob Keegan.

"Both parties still have some details to work out... we are optimistic we can close the deal soon."