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Wingfoot Commercial Tire Systems Receives Joint Venture Approval

1 November 2000

Wingfoot Commercial Tire Systems Receives Joint Venture Approval

    AKRON, Ohio, Oct. 31 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 expiration of the Federal Trade Commission review
period.
    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 -- total 194
commercial tire and service centers, 77 retreading plants and approximately
3,000 associates. Estimated first-year sales are $650 million.
    Goodyear will hold approximately a 60 percent ownership interest in the
joint venture company, and Treadco will hold approximately 40 percent.