UNION CITY, Tenn. (Nov. 15, 2011)—Titan Tire Corp., a subsidiary of Titan International Inc., has confirmed it is buying the former Goodyear plant in Union City for about $9 million.
Titan has notified Akron-based Goodyear of its interest in some of the equipment at Union City shortly after the tire maker closed the facility July 11, according to Titan.
The purchase includes the 2.1 million-sq.-ft. factory building on about 480 acres of land, Titan said.
So far Titan hasn't decided how it will use the Union City plant, except as a warehouse for farm and off-the-road tires and as an equipment rebuilding operation for the machines there, said Titan CEO Maurice “Morry” Taylor Jr. It won't decide whether to keep the purchased equipment at Union City or move them to other Titan locations until mid-2012, he said.
In the purchase agreement, Titan agreed not to build passenger or light truck tires in Union City, the products Goodyear made there.
Goodyear declined comment except to confirm the sale.