Goodyear sells Chemical business to Gemspring for $650M; expected close by late 2025

GOODYEAR TIRE & RUBBER CO /OH/

Goodyear Chemical business sale to Gemspring Capital Management for ~$650M cash.
Assets sold: chemical plants in Houston and Beaumont, TX, and R&D facility in Akron, OH.
Goodyear retains Niagara Falls, NY and Bayport, TX facilities; includes long-term supply agreement.
Proceeds to reduce leverage and fund Goodyear Forward transformation plan.
Transaction subject to regulatory approval; expected close by late 2025.

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