14 Nov 2005
Akron, Ohio --Goodyear and Titan International Inc. have changed the deadline of their agreement for Titan to buy Goodyear's farm tyre business to Sept. 1.
The companies in February said Goodyear will sell its unprofitable North American farm tyre business to Titan for $100 million. The deal, which includes Goodyear's Freeport, Illinois, factory, equipment and about $47 million in inventory, is dependent on Titan reaching an accord with the United Steelworkers.
The companies had set June 30 as the date after which either could end the deal if it hadn't closed or an agreement with the union wasn't reached. That date was extended in a recent filing with the Securities and Exchange Commission, according to Titan.
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