USA / Japan – Akron, Ohio-based Goodyear Tire & Rubber Company has confirmed the sale of its “Dunlop Brand in Europe, North America and Oceania for consumer, commercial and other specialty tyres” to Japan's Sumitomo Rubber Industries (SRI*) for USD 735 million not the USD 701 million, initially announced in January this year. Of this total, the majority USD 526 million is for the Dunlop brand, USD 105 million for a transition support fee and the rest (USD 104 million) is for inventory. This support fee refers to a “Transition Offtake Agreement” means that Goodyear will continue manufacturing and selling Dunlop-branded consumer tyres in Europe through to at least December 31, 2025, and it will pay royalties to SRI during this time. Additionally, Goodyear will supply certain Dunlop-branded tyres to Sumitomo in Europe for a minimum of five years and will license back trademarks for truck tyres in Europe with royalty payments. This divestment is part of Goodyear's strategic plan to streamline its operations and focus on core business areas.

This sale follows Goodyear's recent divestment of its Off-the-Road equipment tyre business to Yokohama Rubber for USD 905 million last year. This further reflects the effort to cut costs as the company faces competition and regulatory challenges in the tyre industry.