Goodyear Announces Sale of Dunlop Brand to Sumitomo Rubber …
2 days ago · Gross cash proceeds at closing of approximately $701 million. Advances Goodyear Forward transformation plan, optimizes portfolio of brands. Goodyear to supply Dunlop tires to Sumitomo Rubber Industries pursuant to a five-year Transition Offtake Agreement in Europe. Goodyear to license back the Dunlop trademarks for use on commercial (truck) tires, and retains its rights to the Dunlop ...
Goodyear sells Dunlop brand to Sumitomo Rubber Industries
7 hours ago · The Goodyear Tire & Rubber Company announced that it has agreed to sell the Dunlop brand to Sumitomo Rubber Industries, Ltd. (SRI).. SRI will pay Goodyear $701 million for the Dunlop brand, and will retain the rights to motorcycle tires in Europe and Oceania. The sale of the Dunlop brand follows a previously announced strategic review of the brand in connection with Goodyear’s transformation ...
Goodyear Signs Contract to Sell Dunlop to Sumitomo Rubber
6 hours ago · The Goodyear Tire & Rubber Company GT recently signed a definitive agreement to sell the Dunlop brand, including trademarks and intangible assets necessary for its operations in Europe, North ...
Goodyear to divest Dunlop brand to Sumitomo Rubber for $701m
5 hours ago · The agreement will see SRI paying Goodyear a cash sum of nearly $701m at closing. This includes the transfer of the Dunlop brand in the specified regions, a "transition fee" for support during the ...
Goodyear Announces Sale of Dunlop Brand to Sumitomo Rubber …
1 day ago · AKRON, Ohio, Jan. 7, 2025 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) ("Goodyear" or the "Company") today announced that it has signed a definitive agreement to sell the Dunlop ...
Goodyear Announces Sale of Dunlop Brand to Sumitomo Rubber …
1 day ago · In addition, under the terms of a Transition License Agreement (“TLA”), Goodyear will continue to manufacture, sell and distribute Dunlop branded consumer tires in Europe through at least December 31, 2025 (subject to extension, as described below). Goodyear will pay a royalty to SRI during this period on Dunlop sales but will otherwise retain all profits from these sales.
Goodyear Announces Sale of Dunlop Brand to Sumitomo
1 day ago · Pursuant to the transaction terms, SRI will pay Goodyear cash proceeds at closing of approximately $701 million for the transfer of the Dunlop Brand across the relevant geographies, a "Transition ...
Goodyear sells Dunlop brand to Sumitomo for $701M
1 day ago · Goodyear said it will license back the Dunlop trademarks from SRI for commercial (truck) tires in Europe on a long-term basis, subject to a royalty on sales. Goodyear can terminate this agreement at any time during the licensing period. According to Goodyear, Dunlop consumer tire sales were $532 million in 2023.
Goodyear sells Dunlop Brand to Sumitomo Rubber
1 day ago · Impact on Financial Performance when Goodyear sells the Dunlop brand. Dunlop consumer tire sales reached $532 million in 2023, with commercial tire sales at $201 million and specialty tire sales at $22 million, Goodyear said. Goodyear will retain rights to Dunlop motorcycle tire trademarks in Europe and Oceania.
Goodyear to sell Dunlop tire brand to Sumitomo Rubber …
19 hours ago · Goodyear and Sumitomo have a significant history together when it comes to the Dunlop brand. In 1999, Goodyear acquired 10% of SRI, creating a nearly $16 billion joint venture that gave Goodyear ...
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