Goodyear Tire is selling majority of its chemical business for $650M

From Yahoo Finance: 2025-05-23 16:35:00

Goodyear Tire (GT) has agreed to sell the majority of its Goodyear Chemical business to Gemspring Capital Management for approximately $650M. The transaction includes facilities in Houston and Beaumont, Texas, and a research office in Akron, Ohio. Goodyear Chemical produces synthetic rubber for automotive and consumer markets. The deal is part of Goodyear’s transformation plan and is expected to close by late 2025. Proceeds will be used to reduce debt and support the company’s strategic initiatives. Goodyear will retain other Chemical facilities and product rights. (Source: TheFly)



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