Goodyear sells its off-road tire business to Yokohama

Goodyear sells its off-road tire business to Yokohama

Goodyear announced that it has signed a definitive agreement to sell its off-the-road ("OTR") tire business to Yokohama for $905 million. Goodyear's OTR tire business supplies OTR tires for the mining, construction and quarrying, port and industrial markets. Goodyear OTR offers a full range of tire management products, services and solutions to optimize operations and improve customer productivity and efficiency. Goodyear will continue to supply OTR tires for U.S. military and defense applications. It is also expected that Goodyear will continue to manufacture certain OTR tires for Yokohama at some of its production sites for up to five years after the closing of the transaction.

The transaction is expected to be finalized in early 2025.