Titan acquires Conti´s Bryan, Ohio OTR tyre plant

Quincy, Illinois - Tyre and wheel maker Titan International Inc. has acquired Continental Tire North America Inc.'s off-the-road tyre plant in Bryan, Ohio. The deal - reached 31 July - is worth about $53 million US dollars (Euro 41.5 million).

Manfred Wennemer, CEO of parent company Continental AG, said the company was pleased to have reached the agreement, and emphasised that the sale of the Bryan facility is part of its overall strategy to focus on passenger and light truck and commercial vehicle tyre manufacturing.

"Today´s announcement along with our other restructuring efforts will help us to secure our continued presence in North America for years to come," he said.

The Bryan plant - which will operate under the name Titan Tire Corp. of Bryan - has a workforce of about 325 employees and posted sales of about $125 million in 2005. Members of United Steelworkers Local 890 ratified a new four-year contract with Titan on July 30.

From Rubber & Plastics News (A Crain publication)