Titan Tire Buys Plant in Tennessee

Titan Tire Corp. has released some details about its recent acquisition of the former Goodyear Tire and Rubber Co. plant in Union City, Tenn., but will not decide on definitive plans for the facility until mid-2012.

The Quincy, IL-based company invested close to $9 million in the 2.1 million-square-foot building, which sits on 480 acres.

“The decision on whether Titan will keep the equipment in Union City or move the equipment to other Titan tire factory locations will not be made until mid-2012,” Maurice Taylor, chairman and CEO of Titan International, said in a statement. “The mixing capacity with the equipment Titan purchased could allow an additional $1 billion in future sales and increase Titan’s output of farm and OTR tires going forward when, as stated, a decision is made. This transaction happened fast so we have a lot of work to do to see what gives Titan the largest savings.”