Yokohama Rubber confirms ‘considering’ Goodyear OTR tire business

London – Yokohama Rubber Co. (YRC) has confirmed to ERJ that it is exploring options for the acquisition of Goodyear’s off-the-road (OTR) tire business.

The statement was in response to press reports that the Japanese group was in advanced talks to acquire the Goodyear business for around $1 billion (€920,000).

“While it is true that we are considering this matter, no decision has been made at this time,” according to 11 July response from YRC to ERJ's enquiry.

Separately, an informed source identified YRC as well as Germany’s Continental AG and US-based Titan International as rival bidders for the Goodyear business.

Goodyear signalled plans to divest the OTR business as part of a major restructuring programme launched last year. (ERJ report)

With 2023 sales of $700 million, the operations include two production facilities in Topeka, Kansas and Tatsuno, Japan, and produce construction, mining and industrial tires.

Acquisition of the unit would make YRC the world's largest off-highway tire maker: building on its €2.1-billion acquisition of Trelleborg Wheel Systems in 2023 and Alliance Tire Group for €1.1 billion in 2016.

Continental, on the other hand, would replace Goodyear as the world's third largest OTR manufacturer with the purchase of the Akron-based group's business.

Meanwhile, Goodyear has, so far, declined to comment on reports that it had found a potential buyer for its off-road tire business.

In a 10 July written reply to ERJ’s enquiry, Goodyear said: “At this time, we are not providing comment on this matter.”