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Penske Auto Centers Signs Long-Term Deal for Goodyear Tires

19 August 1998

Penske Auto Centers Signs Long-Term Deal for Goodyear Tires

    AKRON, Ohio, Aug. 19 -- A long-term agreement was signed
today by representatives of The Goodyear Tire & Rubber Company and Penske Auto
Centers, Inc., linking the two companies through Dec. 31, 2005 as partners in
tire retailing at Penske's 860 tire and service outlets.
    Goodyear has supplied tires to Penske Auto Centers since 1995 when the
chain of tire and auto repair centers was purchased from Kmart Corp.
According to the agreement, Penske Auto Centers will continue to sell both
Goodyear-branded tires and a new line of Penske-branded tires at the outlets.
Offered as the Penske-branded Path Trac AT light truck tire and Speed Trac HP
performance tire, the tires are manufactured by Goodyear's Kelly-Springfield
division.
    "This agreement means the two companies will be linked through a supplier-
retailer relationship that spells success for both of us," said Eugene R.
Culler Jr., Goodyear's executive vice president of North American Tires.
"Goodyear's solid relationship with the Penske group -- from racing to
trucking to tire retailing -- makes this a natural step.  We're proud to
continue a relationship with such a professional organization."
    Roger Penske Jr., chief executive officer of Penske Auto Centers,
commented, "We chose to continue our association with Goodyear through this
long-term agreement because our relationship has been beneficial.  With tires
that carry the well-known and well-respected Goodyear and Penske names,
consumers have strong reasons to visit our outlets.  And we know that products
of that high quality will satisfy those customers."