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EnovaPremier Buys T&WA

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Goodyear has announced that Louisville-based wheel mounting business, T&WA Inc., has sold all of its assets to newly formed EnovaPremier LLC. No details relating to the price of the sale have been released.

Louisville-based T&WA provides mounted and balanced wheel assemblies destined for auto manufacturers including Honda Motor Co., Mercedes-Benz and Toyota Motor Corp. EnovaPremier is a Cincinnati-based company run by Ed Rigaud, a former executive at Procter & Gamble Co.

It plans to maintain T&WA’s Louisville headquarters. Formned in 1995, T&WA also has operations in Paris, Kentucky., as well as in Alabama, Indiana and Michigan.

Goodyear Tire & Rubber Co. has held a minority stake in T&WA since 1999 and will record a $30 – $35 million charge in its fourth quarter as a result of the sale. .

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