South Pacific Tyres
Summary
(03) 9655 3881&The Goodyear Tire Rubber Company has announced that it has completed the acquisition of Ansell Limited's interest in their South Pacific Tyres (SPT) joint ventures.
Goodyear now owns 100 percent of SPT, the leading tire marketer and manufacturer in Australia and New Zealand.
"This move strengthens Goodyear's position in these countries and enhances its flexibility and earnings growth prospects in the Asia/Pacific region," said Pierre E. Cohade, president of Goodyear's Asia/Pacific business unit.
"We see exciting opportunities in our markets and look forward to having the global resources of Goodyear available to help us achieve a stronger market position," said Joseph Copeland, SPT's chief executive officer. "The Australian and New Zealand consumer will be the ultimate winner."
Formed in 1987, SPT has 4,000 associates and annual sales of more than $700 million. Its results have been consolidated with those of Goodyear's Asia/Pacific region since January 2004.
Location
Australia
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