Goodyear now owns 100% of SPT, which markets and manufactures tires in Australia and New Zealand.
“This move strengthens Goodyear’s position in these countries and enhances its flexibility and earnings growth prospects in the Asia/Pacific region,” said Pierre E. Cohade, president of Goodyear’s Asia/Pacific business unit.
Formed in 1987, SPT has 4,000 associates and annual sales of more than $700 million. Its results have been consolidated with those of Goodyear’s Asia/Pacific region since January 2004.
