CHARLOTTE, N.C. (Jan. 26) — Pensler Capital Corp. may be ready to strike a deal with Continental Tire North America Inc. to buy Conti´s off-the-road tire manufacturing plant in Bryan, Ohio.
Pensler and Charlotte-based Conti signed a letter of intent for the factory Jan. 16 after holding informal talks over the past few months, according to Rick Holcomb, Conti´s legal counsel.
A sale is contingent upon New York-based Pensler reaching a deal with the United Steelworkers as required by the successorship clause in Conti´s collective bargaining agreement with the union. Pensler President Sanford Pensler is meeting with union officials today in what John Bowling, chair of USW Local 890L in Bryan, called a "meet and greet" affair.
Pensler is the parent company of Leavittsburg, Ohio-based industrial, specialty and off-road tire maker Denman Tire Corp.
A deal last year that partnered Titan International Inc. with Rodos Giants L.L.C. in an effort to buy the Bryan facility fell through.