AKRON (March 11)—Goodyear has sold its former mold manufacturing facility in Stow, Ohio, to Albrecht Inc., a commercial real estate development company that owns and operates a number of shopping centers in Ohio, for $4.5 million.
The 131,500-sq.-ft. plant sits on a 106-acre site. The tire maker built the factory to manufacture tire molds in 1969 and closed it in October 2002 because of reduced market demand, overcapacity at the facility and high operating costs.
Goodyear continues to make tire molds at its 8-year-old non-union Statesville, N.C., plant, as well as overseas in Sao Paulo, Brazil, and Luxembourg. The Stow facility had been operating at less than a third of capacity shortly before it closed.