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

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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.
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/ ]