Reported 1 day ago
Goodyear Tire & Rubber Co has announced its plan to sell the Dunlop brand to Japan's Sumitomo Rubber Industries for $701 million in cash, as part of a strategy to streamline its operations. This deal includes the Dunlop brand and its trademarks in several regions, with Goodyear continuing to sell Dunlop tires in Europe until the end of the year while paying royalties to Sumitomo. The sale is part of Goodyear's broader cost-cutting initiative, which aims to raise over $2 billion by reducing its business portfolio.
Source: YAHOO