Goodyear sells OTR tire business to Yokohama for $905M cash

GOODYEAR TIRE & RUBBER CO /OH/

Transaction includes OTR manufacturing in Tatsuno, Japan and retread facility in North Bay, Canada.
Goodyear retains OTR tire business for U.S. military and defense applications.
Expected to close by early 2025, subject to regulatory approvals and customary conditions.
Proceeds to be used to reduce leverage and fund Goodyear Forward transformation plan.
Goodyear will supply certain OTR tires to Yokohama for up to 5 years post-closing under product supply agreement.

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