Goodyear sells Off-The-Road tyre business to Yokohama
By Luke Willetts - 16th August 2024
USA / Japan – Akron, Ohio-based Goodyear Tire & Rubber Company has announced the sale of its Off-The Road (OTR) tyre business to Japanese tyre manufacturer Yokohama Rubber Co Ltd for USD 905 million. The sale is still pending regulatory approval and is expected to close by Q1 2025. This is part of Goodyear’s plan to cut costs by streamlining its business operations.
The Off-the-Road business manufactures tyres for the mining and construction industry. Goodyear announced that it expects to manufacture Yokohama-branded tyres at its facilities for these segments for an initial period of up to five years after the close of the deal. Goodyear will retain its business providing OTR tyres for U.S. military and defence applications.
