AKRON (March 11, 2005) — Goodyear has sold its former tire mold plant in Stow, Ohio, to Albrecht Inc., a commercial real estate development company that owns and operates a number of shopping centers in Ohio, for $4.5 million.
The 131,500-sq.-ft. plant sits on a 106-acre site. Goodyear built the factory in 1969 to make tire molds and closed it in October 2002 because of reduced market demand, overcapacity at the facility and high operating costs.
Goodyear continues to make tire molds at its 8-year-old non-union Statesville, N.C., plant, as well as overseas in Sao Paulo, Brazil, and Luxembourg. The Stow facility had been operating at less than a third of capacity shortly before it closed.