Yokohama completes acquisition of Goodyear’s OTR business

Yokohama Rubber has officially completed its acquisition of Goodyear’s Off-the-Road (OTR) tyre business, in an all-cash transaction valued at approximately $905 million.

The deal, which was finalised yesterday (4th February) was initially announced last July and significantly strengthens Yokohama’s position in the global off-highway tyre (OHT) sector.

Goodyear’s now former OTR business, which specialises in tyres for the mining and construction industries, reported annual sales of $678 million in fiscal 2023 and employs approximately 500 staff.

The acquired business includes a comprehensive product range, covering tyres from 25 inches to ultra-large 63-inch models.

Additionally, Yokohama said it will benefit from advanced technologies, strong brand equity, and the expertise of skilled professionals from Goodyear’s former OTR operations.

“The sale of the OTR business is a significant milestone in Goodyear’s transformation,” said Goodyear chief executive officer and president Mark Stewart. “Our portfolio is now more streamlined, driving further efficiencies and enhancing our focus on our core industry-leading products and services.”