Deals
Yokohama to Buy Goodyear’s OTR Tire Business for $905 Million
- The Japanese firm sees OTR business as future growth driver
- A transaction could be completed by early next year: Goodyear
A Goodyear off-the-road tire.
Source: The Goodyear Tire & Rubber Company
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Yokohama Rubber Co. agreed to acquire Goodyear Tire & Rubber Co.’s Off-the-Road tire business for $905 million as part of the Japanese manufacturer’s global expansion plan.
The OTR business will be a future growth driver, Yokohama Rubber said in a statement about the acquisition Monday, which confirmed an earlier Bloomberg News report. In a separate statement, Goodyear said it will retain the part of the business that provides OTR tires for US military and defense applications. The transaction could be completed by early 2025, Goodyear said.