Goodyear Tire completes divestiture of Chemical business

The Goodyear Tire (GT) & Rubber Company has completed the previously announced divestiture of the majority of its Goodyear Chemical business to an affiliate of Gemspring Capital Management, LLC, effective Oct. 31, 2025, for a purchase price of $650M, subject to adjustments. At the time of closing, Goodyear received cash proceeds of approximately $580M, which reflects working capital adjustments, including an adjustment for intercompany receivables. The Goodyear Chemical facilities in Houston and Beaumont, Texas, and a related research office in Akron, Ohio, are included in this sale. Goodyear retains its Chemical facilities in Niagara Falls, New York, and Bayport, Texas, and its rights to the products produced at these facilities. Goodyear intends to use transaction proceeds for debt reduction and to fund initiatives in connection with the Goodyear Forward transformation plan.