Auto Industry
Industry: Email Alert RSS FeedGoodyear increases stake in Sava - Europe - Brief Article
Automotive Industries, June, 2002
Goodyear Tire and Rubber Co. buys an additional 20 percent stake in Sava Tires d.o.o. in Kranj, Slovenia, for $38.5 million. The purchase increases Goodyear's stake in Sava Tires -- a Goodyear joint venture with Sava d.d. -- to 80 percent Goodyear also has the right to buy the remaining 20 percent of the company sometime during 2004 to 2005.
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Sava Tires built more than 6 million tires during 2001. Goodyear has owned a stake in the joint venture since 1998.
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