Goodyear Tire Corp. announced that it has fully controlled Japan's Nippon Giant Tire Corp. ("NGT") and acquired shares in the company held by Toyo Rubber Industries and Mitsubishi Motors.

Goodyear Tire Company acquired a majority stake in NGT in 1985. In order to meet the growing demand for non-road tires in the Asia-Pacific market, Goodyear Tire plans to invest 250 million US dollars to increase the production capacity of NGT plants and purchase modern machinery and equipment for the plant.

Richard Kramer, president and chief executive officer of Goodyear Tire Co., Ltd., said: "The complete control of NGT Tire Company is in line with the company's development strategy, which will enable us to achieve greater growth in the global off-road tire segment market."

Goodyear Tire also announced that after the expansion of the NGT plant in 2014, the number of employees in the plant will increase to 400.

Dan Smytka, president of Goodyear Asia Pacific, said the investment will enable NTG to produce a full range of 57-inch and 63-inch tires.