Phoenix, Goodyear to share auto hose facilities

HAMBURG, Germany (Oct. 18)—Phoenix A.G. and Goodyear have agreed to make automotive coolant hose for each other at their respective company plants in Europe and North America. The extensive off-take manufacturing agreement, involving Phoenix Automotive GmbH of Hamburg and Goodyear Engineered Products of Akron, will allow both firms to improve their global supply sourcing of uniform products for international vehicle makers while permitting them to reduce costs by optimizing manufacturing and technical assets, Phoenix said in a prepared statement. The companies also intend to expand their common activities to the Asian and South American markets in the future, it added. The agreement involves six Goodyear hose plants in the U.S., Canada and Mexico and six Phoenix hose operations in Germany, Spain, Italy, Hungary and Romania. Terms of the deal were not disclosed.