'Many issues' block Titan's purchase of Goodyear ag unit

Nov. 15, 2005

"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.