Goodyear set to deliver on divestment plan after its strikes deal to sell synthetic rubber business

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Goodyear set to deliver on divestment plan after it strikes deal to sell synthetic rubber business

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Goodyear set to deliver on divestment plan after its strikes deal to sell synthetic rubber business

//business-finance.news-articles.net/content/202 .. ikes-deal-to-sell-synthetic-rubber-business.html

Published in Business and Finance on Friday, May 23rd 2025 at 15:00 GMT by Fortune
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

The tire maker expects to reap $650 million in gross proceeds from selling most of its Chemical arm, achieving a key target from its Goodyear Forward restructuring plan.

2025-05-24 312 x 156 / 72181 Bytes

Goodyear Tire & Rubber Company announced on May 23, 2025, a strategic divestment plan to sell its synthetic rubber business, aiming to streamline operations and focus on its core tire manufacturing. The decision comes as part of a broader restructuring effort to improve profitability and competitiveness in the evolving automotive industry. The synthetic rubber division, which has been a part of Goodyear for decades, will be sold to a consortium of investors led by a major chemical company. The proceeds from the sale are expected to be used to reduce debt and invest in new technologies and sustainable practices within Goodyear's primary business segments. This move is anticipated to be completed by the end of 2025, pending regulatory approvals.

Read the Full Fortune Article at:
[ https://fortune.com/2025/05/23/goodyear-divestment-plan-synthetic-rubber-business/ ]