China Tire Holdings, 2 Affiliates Sue Goodyear: The companies' suit alleges that Akron, Ohio-based Goodyear Tire & Rubber Co. formed a joint venture with a tire factory in Dalian, an industrial city in northeastern China, knowing that China Tire Holdings had already arranged to acquire the plant. The suit seeks $1 billion. China Tire, Orion Tire Corp. of San Clemente, Calif., and China Strategic Holdings Ltd. of Hong Kong filed the suit in U.S. District Court in Los Angeles. They say an Orion representative told Goodyear officials in confidence about the deal, and that in April, 1994, the plaintiffs were notified that Goodyear had entered joint venture contract with the factory and would acquire a 75% interest. Goodyear officials could not immediately be reached for comment.
Times Staff and Wire Reports
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