MEMPHIS, Tenn. (AP) -- The new owner of the closed Goodyear plant in Union City says it purchased the 2.1 million square foot facility for $9 million.
Titan Tire Corp. said Friday that it bought the plant but released few details. The company posted a statement on its Web site Tuesday saying that it has not yet decided how it plans to use the plant located on 480 acres of land other than to warehouse farm and off-road tires.
Titan agrees it will not produce radial passenger or SUV tires at the factory and Goodyear will have until June 2012 to remove the equipment it wants to keep.
The 43-year-old Goodyear plant was Obion County's largest employer until its closure in July, putting 1,800 employees from West Tennessee and western Kentucky out of work.
Copyright 2011 The AP.