it will sell its Off-The-Road tire business to Japanese tire maker Yokohama for $905 million, and separately said it is moving 175 Akron jobs to Costa Rica.
Goodyear said the sale of its Off-The-Road tire business is expected to close in early 2025. This segment of Goodyear makes tires that outfit large vehicles in the mining and construction industries. These tires are made to drive over rock and gravel and can be roughly 8 to 13 feet in diameter. “The sale of the OTR business marks an important milestone as we continue to execute against our Goodyear Forward transformation plan,” said Mark Stewart, Goodyear’s CEO and president. “We are grateful to our OTR colleagues who have driven the success of the business and are committed to working closely with Yokohama to ensure a smooth transition for customers and associates.”
According to a financial form filed with the SEC, the sale includes a Goodyear manufacturing facility in Tatsuno, Japan, and a retread facility in North Bay, Canada.In another move related to Goodyear Forward, the company said 175 positions would move from Akron to a new Goodyear location in Costa Rica, effective in early 2025.