Pirelli Armstrong Tire Corp. v. Titan Tire Corp.

OPINION

RICHARD MILLS, U.S. District Judge.

Two large, sophisticated companies made a deal.

But the deal did not turn out as favorably as Titan Tire would have liked.

Titan Tire now wants out.

The deal stands.

Judgment for Pirelli Armstrong.

INTRODUCTION

Plaintiff Pirelli Armstrong Tire Corporation (Pirelli) sold a tire manufacturing facility in Des Moines, Iowa, to Defendant Titan Tire Corporation (Titan) pursuant to an Asset Purchase Agreement. As part of the deal, Titan agreed to assume Pirelli’s liability for certain retiree medical benefits owed to the employees of the Des Moines facility.…