Goodyear completes sale of OTR tyre business to Yokohama
The Goodyear Tire & Rubber Company has completed the previously announced sale of its off-the-road (OTR) tyre business to The Yokohama Rubber Company Ltd, effective 3 February 2025, in an all-cash transaction valued at $905 million. The two companies’ deal was initially announced on 22 July 2024. For its part, Goodyear intends to use transaction proceeds to reduce leverage and fund initiatives in connection with the Goodyear Forward transformation plan. Yokohama Rubber plans to include the acquired business in its consolidated results from the first quarter of 2025 and is currently examining the addition’s estimated impact on consolidated earnings.