Wingfoot Tire Gets Wings

AKRON, Ohio--The recently announced joint venture to create Wingfoot Commercial Tire Systems, the world’s largest network of commercial tire service outlets and truck tire retreading facilities, has become official following a review by the Federal Trade Commission.

The agreement combines Treadco Inc. operations, The Goodyear Tire & Rubber Company’s commercial tire service centers and the Goodyear-operated Brad Ragan Inc. commercial tire centers. Collectively, the joint venture operations--under the Wingfoot Commercial Tire Systems banner--will total 194 commercial tire and service centers, 77 retreading plants and about 3,000 employees. Estimated first-year sales are $650 million.

Goodyear will hold a 60 percent ownership interest in the joint venture company, and Treadco will have 40 percent.

Wingfoot Tire is headquartered in Fort Smith, Ark., with John R. Meyers serving as the company’s chairman and chief executive officer, and Michael R. Thomann as president and chief operating officer.

For more information, contact www.goodyear.com.