Conti in talks to sell OTR plant to Pensler

摘要

CHARLOTTE, N.C.—Pensler Capital Corp., parent of specialty tire maker Denman Tire Corp., may be ready to strike a deal with Continental Tire North America (CTNA) Inc. to buy Conti's off-the-road tire plant in Bryan, Ohio. Pensler and Charlotte-based Conti signed a letter of intent for the plant Jan. 16 after holding informal talks over the past few months, accord- ing to Rick Holcomb, CTNA's legal counsel. A sale is contingent upon New York-based Pensler reaching a deal with the United Steel-workers (USW) as required by the successorship clause in Conti's collective bargaining agreement with the union. Mr. Holcomb said that if negotiations go well with the union, Conti hopes it can close on a sale to Pensler by the second quarter.