Goodyear Tire & Rubber announced a $15 million expansion of its European Technical Center in Colmar-Berg, Luxembourg.Goodyear Tire & Rubber announced a $15 million expansion of its European Technical Center in Colmar-Berg, Luxembourg, as well as construction of a related test and research laboratory. A third floor will be added to the technical center and a tire/vehicle test and research laboratory will be built at the nearby Goodyear test track. The technical center addition will increase floor space from 23,000 square feet to nearly 33,000 square feet. Goodyear Engineered Products, Akron, OH, finalized See finalization. the sale of its extruded rubber business, based in St. Marys, OH, to Longwood Elastomers, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Longwood Industries, based in Florham Park, NJ. Financial details of the transaction were not disclosed. Longwood plans to relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. the manufacturing equipment to its Fairfield, CT plant where it already operates an extrusion line. Goodyear has purchased the remaining 40% interest in its Contred tire and engineered products subsidiary in South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. from Anglovaal Industries Ltd., a South African industrial group. The $59 million purchase was effective March 2. The subsidiary includes a tire factory and an engineered rubber products factory in Uitenhage, Eastern Cape The Eastern Cape is a province of South Africa. Its capital is Bhisho. It was formed in 1994 out of the "independent" homelands of Transkei and Ciskei, as well as the eastern portion of the Cape Province. Province; a chain of 195 retail stores; and the nation's largest retreading operation with 41 plants. |
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