Goodyear signed an agreement to sell its off-the-road (OTR) tire business to Yokohama for $905 million.
Goodyear’s OTR tire business provides OTR tires around the world for surface and underground mining, construction and quarrying, and port and industrial end markets.
“The sale of the OTR business marks an important milestone as we continue to execute against our Goodyear Forward transformation plan,” says Mark Stewart, president and CEO of Goodyear. “We are grateful to our OTR colleagues who have driven the success of the business and are committed to working closely with Yokohama to ensure a smooth transition for customers and associates.”
As part of the agreement, Goodyear will manufacture certain OTR tires for Yokohama at some of its manufacturing locations for up to five years following the deal’s completion.
