AKRON (Jan. 25) — Goodyear has completed the acquisition of Ansell Ltd.´s interest in the companies´ South Pacific Tyres joint venture.
Closure of the deal gives Goodyear 100 percent of South Pacific, which is based in Australia and makes tires for distribution in Australia and New Zealand. The move "strengthens Goodyear´s position in these countries and enhances its flexibility and earnings growth prospects in the Asia/Pacific region," according to Pierre E. Cohade, president of Goodyear's Asia/Pacific business unit.
The purchase should open the door to new opportunities for the company and strengthen Goodyear´s market position, said Joseph Copeland, CEO of South Pacific.
Formed in 1987, South Pacific has annual sales of more than $700 million and a work force of about 4,000.