Goodyear explores sale of chemical business

The Goodyear Tire & Rubber Company announced today that it is exploring the possible sale of the company’s Chemical business.

Goodyear Chemical provides basic and polymers, antioxidants, latex and adhesive resins to customers worldwide. The business has annual revenues of more than $750 million.

Goodyear Chemical has its headquarters, research and development facilities and a pilot plant in Akron. Its manufacturing facilities are in Niagara Falls, NY and Beaumont, Bayport and Houston, TX. The business has more than 1,400 associates.

Goodyear has retained Credit Suisse First Boston to advise on the possible divestiture.

Joseph Copeland, president of Goodyear Chemical, said the company’s decision to explore the sale of the business would not interfere with its daily operations.

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