Regaining control of the Dunlop brand in North America and Europe is part of Sumitomo Rubber Industries' strategy to re-establish Dunlop as a "premium tire brand in the global market."

The Goodyear Tire and Rubber Company has entered into a definitive agreement to divest its Dunlop brand to Sumitomo Rubber Industries (SRI).

Goodyear Tire & Rubber plans to sell its Dunlop brand to Japan’s Sumitomo Rubber Industries for about $700 million. The Ohio-based tiremaker said Tuesday that it agreed to sell the Dunlop trademarks and intangible assets in Europe,

The Goodyear Tire & Rubber Company (NASDAQ:GT) shares are trading flat premarket on Wednesday. On Tuesday, the company entered a deal to sell its Dunlop brand to Sumitomo Rubber Industries (SRI) for cash proceeds of around $701 million.

The Goodyear Tire & Rubber Company announced that it has signed a definitive agreement to sell the Dunlop brand to Sumitomo Rubber Industries, Ltd.

The Goodyear Tire & Rubber Company announced that it has agreed to sell the Dunlop brand to Sumitomo Rubber Industries, Ltd. (SRI).

(Reuters) -Goodyear Tire & Rubber Co said on Tuesday that it will sell its Dunlop brand to Japan's Sumitomo Rubber Industries for $701 million in cash as part of a plan to streamline its business. The sale covers the Dunlop brand and its trademarks in Europe, North America and Oceania, the company said.