Wednesday, November 16, 2011

Titan & Goodyear ~ Big Secret ? Why ?

Details Sketchy on Titan Tire Plans
Posted: Monday, November 14, 2011 9
By KEVIN BOWDEN, Staff Reporter UC Daily Messenger

Officials with Titan Tire Corporation are being very elusive about their plans for the former Goodyear plant in Union City.The plant has been sold by Goodyear to the off-road tire manufacturer based in Quincy, Ill. The deal became official at midnight Thursday, according to Obion County Mayor Benny McGuire. Union City’s Goodyear plant will be used to mix rubber, according to a statement from Titan Tire’s director of investor relations Krista Gray. Titan Tire has manufacturing facilities located in Des Moines, Iowa, Freeport, Ill., and in Bryan, Ohio. Maurice M. Taylor is chairman and CEO of Titan International, Inc. Efforts to contact Taylor concerning his plans for the former Goodyear plant have been unsuccessful. He is reportedly planning on releasing information about his plans for the local tire plant, but no specific time has been given as to when he will make his announcement.It was in mid-February that Goodyear first announced it would be shutting down it’s Union City tire plant by the end of this year. The plant was actually shut down on July 11, sending shockwaves throughout the region. The Union City Goodyear plant had been the county’s largest employer and was one of the largest employers in the region. Local officials reacted positively to Friday’s announcement that Titan Tire had bought the local Goodyear plant. Now, those officials are anxiously waiting to hear from Titan Tire officials about their plans for the plant.“I’ve had the weekend to let Friday’s news sink in and, like everyone else in Obion County, I’m waiting patiently for a press release from Titan Tire,” McGuire told The Messenger today.“We will be releasing a press release soon. I cannot release any statement or details until that time,” Ms. Gray stated in an email to The Messenger today.When asked if she could be more specific about when an announcement will be made, Ms. Gray replied, “Probably today.”Titan Tire’s history dates back to 1993 and today the company is a leading global supplier of wheel and tire assemblies for off-highway vehicles. Staff Reporter Kevin Bowden may be contacted by email at Published in The Messenger 11.14.11

1 comment:

Anonymous said...

Titan released the following statement:

“Titan has not yet decided how it plans to utilize the Tennessee location except to warehouse farm and OTR tires and to have a single equipment rebuilding operation for the machines. The decision on whether Titan will keep the equipment in Union City or move the equipment to other Titan tire factory locations will not be made until mid 2012. The mixing capacity with the equipment Titan purchased could allow an additional $1 billion in future sales and increase Titan’s output of farm and OTR tires going forward when, as stated, a decision is made. This transaction happened fast so we have a lot of work to do to see what gives Titan the largest savings,” stated Maurice Taylor, Chairman and CEO of Titan International.