The Goodyear Tire & Rubber Company on Wednesday said it had completed the previously announced acquisition of Ansell Limited's interest in their South Pacific Tyres (SPT) joint ventures.

Goodyear now owns 100% of SPT, the leading tyre marketer and manufacturer in Australia and New Zealand.

"This move strengthens Goodyear's position in these countries and enhances its flexibility and earnings growth prospects in the Asia/Pacific region," said Pierre Cohade, president of Goodyear's Asia/Pacific business unit.

Formed in 1987, SPT has 4,000 associates and annual sales of more than US$700 million. Its results have been consolidated with those of Goodyear's Asia/ Pacific region since January 2004.