Titan International has entered into a licensing agreement with Goodyear that allows Titan to distribute and sell Goodyear-brand farm tires in more than 100 countries in Europe, the Middle East, Africa, Russia and other Commonwealth of Independent States countries.
It also allows Titan to manufacture such farm tires in parts of the licensed territory outside the European Union. In addition, Titan has purchased certain Goodyear molds and other assets currently located in Poland, Turkey and South Africa.
“We are very excited to expand upon our existing licensing arrangements in North America and Latin America to now include licensing of Goodyear brand farm tires in these additional, important agricultural regions,” said Morry Taylor, Titan chairman and CEO. “From the time when Goodyear exited EMEA Farm Tire business in 2014, Titan has suffered the loss of business relating to new equipment being exported from North America to Europe. In fact, we estimate over $100 million in U.S. sales were lost. Titan will work to get all that business back plus more, but it will take time.
“This agreement puts Titan ‘back in the game’ and significantly expands our footprint, market strength, and visibility with Goodyear brand farm tires in EMEA region,” Taylor added.
Titan said it will add manufacturing of Goodyear brand farm tires to its facility located in Russia, enabling the tiremaker to provide customers with a competitive product offering in these new markets.
