Goodrich Deflates Itself Again
B. F. Goodrich doesn't make tires anymore--it exited that business in the 1980s. Now, it's pulling back from its biggest remaining product, polyvinyl chloride. Goodrich will spin off to the public a 50% interest in its $951 million PVC unit, dubbed Geon, raising an estimated $270 million to $310 million. The parent will also get $200 million from Geon, which it'll invest in its aerospace and specialty chemicals businesses.