The deal includes Goodyear's manufacturing sites in Houston and Beaumont, Texas, as well as its R&D centre in Akron, Ohio. As part of the agreement, Goodyear will maintain its operations in Niagara Falls, New York, and Bayport, Texas, retaining production rights for antioxidant and specialty chemicals. This transaction forms a key element of Goodyear's broader transformation plan, launched in 2023, which targets $1bn in cost savings by year-end and aims to unlock $2bn in proceeds through portfolio streamlining. The sale of the chemicals business follows recent divestments of the company's off-the-road tyre and Dunlop operations. 'As a standalone entity, the business will be well positioned to accelerate product development, expand its global relationships, and drive innovation through technical and operational excellence,' said Gor. Goodyear Chemicals supplies synthetic rubber and polymers used in tyres, medical devices, packaging, and consumer goods. The divestment underscores...
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