Goodyear Completes Divestiture of OTR Tire Business

Feb 06, 2025

AKRON, Ohio — The Goodyear Tire & Rubber Company (NASDAQ: GT) ("Goodyear" or the "Company") has completed the previously announced divestiture of its off-the-road (OTR) tire business to The Yokohama Rubber Company, Limited, effective Feb. 3, 2025, in an all-cash transaction valued at approximately $905 million.

"The sale of the OTR business is a significant milestone in Goodyear's transformation," said Goodyear Chief Executive Officer and President Mark Stewart. "Our portfolio is now more streamlined, driving further efficiencies and enhancing our focus on our core industry-leading products and services."

Goodyear intends to use transaction proceeds to reduce leverage and fund initiatives in connection with the Goodyear Forward transformation plan.

Source : Farm Equipment

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