Titan Takes Third Extension on Goodyear Deal

(Akron/Tire Review) Late yesterday morning, Titan International announced that it was extending the deadline for the completion of its planned purchase of Goodyear Tire & Rubber Co.’s agricultural tire business. The new deadline is 1 November. The previous deadline of 1 October came and went without a public announcement by the Des Moines, Iowa, tire and wheel maker. Titan said it filed for the extension on 30 September.

The extension is the third Titan has taken since it announced its plans to buy all of Goodyear’s agricultural tyre business – including its Freeport, Illinois, agricultural tyre plant – for some $100 million. As required by Goodyear’s contract with the United Steelworkers (USW) union, Titan must reach an agreement on a new contract for the plant’s 800 workers before the sale can be completed.