Goodyear has increased its ownership stake in Slovenia's Sava Tires d.o.o. to 80 percent and secured the right to buy the remaining 20 percent during 2004 and 2005.
Goodyear paid $38.5 million recently to local shareholders for the 20-percent stake in Sava, the Kranj-based unit that posted sales of more than $230 million last year. Goodyear has invested more than $90 million in the company since buying into it in 1998. The plant makes more than 6 million car, light and medium truck tires a year with 1,400 employees.
Sava is one of four tire plants Goodyear operates in its eastern Europe/Middle East region. Others are in Debica, Poland, and in Izmit and Adapazari in Turkey.