Yokohama may become the world's largest manufacturer of OTR tires

Yokohama Rubber has confirmed that it is considering the acquisition of Goodyear's off-the-road (OTR) tire business. The company made this statement after reports emerged that negotiations are underway for the purchase of Goodyear's OTR tire production for $1-1.5 billion.

"We are indeed exploring this opportunity, but no decisions have been made at this time," Yokohama emphasized.

According to a source cited by ERJ, German company Continental and US-based Titan International are also potential buyers of Goodyear's assets, while Bloomberg sources stated that Yokohama remains the primary bidder.

In 2023, Goodyear's OTR tire division generated $700 million in revenue, with tires for construction, mining, industrial, and other specialty vehicles being produced at two plants in the US and Japan. The company announced plans to sell this business last year.

If the deal with Yokohama is successful, the Japanese company will become the world's largest OTR tire manufacturer, having previously acquired Alliance Tire Group (ATG) and Trelleborg Wheel Systems (TWS) for $1.1 billion and $2.1 billion, respectively.

Goodyear has not commented on the situation yet.