Goodyear completed the sale of its chemical business

The Goodyear Tire & Rubber Company has completed the previously announced sale of the majority of its chemical business to an affiliate of Gemspring Capital Management. The transaction, which closed on October 31, 2025, is valued at approximately $650 million, subject to adjustments.

At closing, Goodyear received cash proceeds of approximately $580 million, reflecting working capital adjustments, including an adjustment for intercompany receivables.

“With the sale of our chemical business, we have completed all planned asset sales included in our Goodyear Forward transformation program,” said Richard J. Kramer, Goodyear’s chairman, chief executive officer and president, Марк Стюарт.

Исправленный вариант:

The Goodyear Tire & Rubber Company has completed the previously announced sale of the majority of its chemical business to an affiliate of Gemspring Capital Management. The transaction, which closed on October 31, 2025, is valued at approximately $650 million, subject to adjustments.

At closing, Goodyear received cash proceeds of approximately $580 million, reflecting working capital adjustments, including an adjustment for intercompany receivables.

“With the sale of our chemical business, we have completed all planned asset sales included in our Goodyear Forward transformation program,” said Mark Stewart, Goodyear’s chief executive officer and president.