AKRON (Oct. 31, 2000)—The Federal Trade Commission has lent tacit approval to the joint venture between Goodyear and Treadco Inc. creating what has been called the world´s largest network of commercial tire service outlet and truck tire retreading facilities.
The launching of the new joint venture, known as Wingfoot Commercial Tire Systems, became official Oct. 31 with the expiration of the FTC´s review period.
The venture combines the operations of Goodyear and Treadco Inc. into a single unit comprising 194 commercial tire and service centers, 77 retreading plants and approximately 3,000 employees. Its first-year sales have been estimated at $650 million.
Goodyear will hold a 60-percent stake in the venture, with Treadco holding the remainding 40 percent. Treadco is a subsidiary of Arkansas Best Corp.
The new company´s headquarters will be in Fort Smith, Ark., with Treadco executive John R. Meyers serving as its chairman and CEO, and Goodyear´s Michael R. Thomann as president and COO.