Zamarro: Goodyear Chemical business is ‘inherently more valuable’ now
In November 2023, Goodyear announced that its Chemical, Off-The-Road, and Dunlop brand business were under strategic review. Deemed to be non-core businesses, they were put up for sale with a view to raising “gross proceeds in excess of US$2 billion”. A-year-and-a-half down the road, the Dunlop and Goodyear OTR deals are done. Executives always said the Dunlop negotiations were furthest down the road, but analysts expected the Chemical business to be amongst the most straightforward sales as well.