Goodyervice bunch to present the void plan after vacation to sell synthetic rubber business

• The largest Tire manufacturer for US car companies will sell the most good chemical arms The special capital company Gempspring capital is expected to end in late this year. In total income, $ 650 million in the year, the sale of the other two enterprises reached $ 1.6 billion, Goodyear reaches the main goal from the forth restructuring plan.

Goodyear is close to the closure of its synthetic rubber work after the most tire manufacturer of the world’s third largest tire manufacturer, after a transaction to sell the cash for $ 650 million.

In 2023, he agreed with Fortune 500active participantElliott Investment ManagementSell ​​the trio of enterprisesGoodyear For the purpose of collecting more than $ 2 billion to pay the debt under the forward reset plan.

This target will be obtained after its Dunlop Brand and Tire Roads and the operations of the Tire Roads are available after combination in two separate operations this year Gross income.

“We continue to optimize our portfolio with the sale of our chemical work and demonstrate our commitment to the creation of stock value,” said CEO Mark Stewart A statement Thursday.

Goodyear’s shares appeared in 25% of the 25% annual decline against small reductions in the US capital index.

Goodyear Chemicals Annual Income $ 1 billion Income from domestic sales

Then the majority of synthetic rubber activities will be handed over to a secret capital company by the end of this year. Goodyear, Niagara Falls, NY and Bayport, Texas, as well as the rights of products prepared there will protect the rights.

In the operation, Goodyear includes a long-term supply agreement to ensure that the tires they compete with larger rivals Michelin France and Japan Corpse. Goodyear Half of the chemical substance is about $ 1 billion in income from annual income.

“We will work hard with gemspring to provide a smooth transition to our friends, our customers and suppliers,” he added Stewart.

The gaps that will collect $ 2.2 billion in total are the main pillar of the Turnaround plan to be completed by the end of 2025.

This story was first displayed Fortune.com

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