Monday, December 05, 2011 Titan Frustrated with France
 Titan International recently announces that the put option Goodyear had for the Amiens France facility expired on November 30, 2011. Goodyear and Titan had entered into an agreement in 2009 for Titan to acquire Goodyear’s Latin America farm tire business and their European farm tire business.
The parties closed on the Latin America transaction on April 1, 2011 but the European farm business and related put option contained a clause that Goodyear had to have a social plan for the closing of the passenger car business in Amiens France leaving 537 jobs in the farm business. The factory unions have been successful in the French labour courts holding up such plans for a number of years.
“It shows how screwed up things are in France when a company tries to save jobs,” said Maurice Taylor, Chairman and CEO of Titan International. “Titan has other acquisitions that have been on hold while the put option was still active. Now Titan will pursue those options instead of waiting for the French union to start thinking about their members.”
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