Goodyear completes Sava purchase

June 29, 2004

Goodyear Tire & Rubber Co. now owns 100% of Kranj, Slovenia-based tiremaker Sava Tires d.o.o.

"Sava Tires and its quality products are playing an important role in our success in Europe," says Goodyear Chairman and CEO Bob Keegan.

Goodyear acquired 60% stake in Sava six years ago and bought an additional 20% in 2002.

This 80% stake was then transferred to the Akron, Ohio-based company's Goodyear Dunlop Tires Europe subsidiary.

Goodyear paid $52 million for the remaining balance of Sava shares, which also will be transferred to Goodyear Dunlop Tires Europe.