Goodyear acquires full ownership of Nippon Giant Tire

qiangzi

Thursday, June 7, 2012

: J. H5 `0 i) I/ w; _Akron, OH - Goodyear Tire & Rubber has acquired 100% ownership of its Nippon Giant Tire (NGT) subsidiary in Tatsuno, Japan. Goodyear, the majority shareholder of NGT since 1985, has purchased the shares owned by its joint venture partners, Toyo Tire & Rubber and Mitsubishi, for an undisclosed amount. Additionally, Goodyear announced that it will invest $250 million to upgrade and expand NGT’s tire manufacturing facility to increase its global supply of OTR tires for key customers. The expansion will also support growth in the company’s Asia Pacific OTR business, primarily in Australia, which is one of the world’s largest markets for OTR tires.The expanded facility is expected to be fully operational in early 2014 and increase employment at the operation to approximately 400 workers. This investment will enable NGT to manufacture a full line of 57-inch tires, as well as 63-inch tires at a future date, said Dan Smytka, president of Goodyear’s Asia Pacific region. Goodyear began production of 63-inch OTR tires at its plant in Topeka, KS in late 2010. The company also produces OTR tires at facilities in Brazil, Colombia, Germany, Luxembourg, India, Indonesia, Thailand, South Africa and Turkey.