Goodyear to sell majority in its chemical business
By Luke Willetts - 15th June 2025
USA – As part of its strategic plan to streamline operations and focus on core business areas, Akron, Ohio-based Goodyear Tire & Rubber Company has announced the sale of the majority of its chemical business to Gemspring Capital Management LLC for approximately USD 650 million in cash, pending regulatory approval.
Goodyear Chemical is a supplier of synthetic rubber used in automotive, industrial, and consumer markets across North America. The sale follows Goodyear’s previous divestments, including the sale of its “Dunlop” brand rights in Europe, North America, and Oceania for consumer, commercial, and specialty tyres to Japan’s Sumitomo Rubber Industries (SRI), and the 2024 sale of its Off-the-Road equipment tyre business to Yokohama Rubber for USD 905 million. These moves underline Goodyear’s ongoing efforts to reduce costs and focus on its core tyre business amid rising competition and regulatory pressures.
