The recently announced joint venture to create Wingfoot Commercial Tire Systems, a Fort Smith, Ark.-based network of commercial tire service outlets and truck tire retreading facilities, has been declared an official corporation by the Federal Trade Commission.

The agreement combines Treadco, The Goodyear Tire & Rubber Company's commercial tire service centers and the Goodyear-operated Brad Ragan commercial tire centers.
The joint venture will operate under the Wingfoot Commercial Tire Systems banner, with a total of 194 commercial tire and service centers, 77 retreading plants and approximately 3,000 employees.
Goodyear will hold approximately a 60 percent ownership interest in the joint venture company, and Treadco will hold approximately 40 percent.
John R. Meyers is Wingfoot’s chairman and chief executive officer, and Michael R. Thomann serves as president and chief operating officer.