Titan in the Ring to Buy CTNA OTR Plant - Tire Review Magazine

Titan in the Ring to Buy CTNA OTR Plant

(Akron/Tire Review) Titan International Inc. announced this morning that it has officially entered into negotiations aimed at purchasing Continental Tire North America's (CTNA) OTR tire plant in Bryan, Ohio.

The deal, according to Titan, will actually involve its Titan Tire Corp. subsidiary.

Titan said it hoped to reach a definitive deal within 30 days.

Titan’s plan to buy the plant had been rumored for some time, but no definitive moves had been made. It is suspected, some industry observers say, that Titan’s recent successful purchase of Goodyear’s agricultural tire business – which included negotiating a new contract with USW workers at Goodyear’s Freeport, Ill., plant – served as a springboard for this move.

As with past suitors – German retreaders Roesler Group and Denman Tire Corp. owner Pensler Group – Titan must negotiate a new master contract with the United Steelworkers and USW Local 850, which represents workers at the Bryan plant.

Titan said that the plant produces sales of $125 million annually.

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