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US-based Goodyear To Pursue Strategies For Chemical Business

Chem Dive Team by Chem Dive Team
November 16, 2023
in America, Latest News, World
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US-based Goodyear To Pursue Strategies For Chemical Business

Featuring an 18-inch wheel diameter, shorter sidewall and wider contact patch, Goodyear’s NASCAR Next Gen tire closely resembles its high-performance tire that outfits passenger cars. The NASCAR Next Gen tire will take to the track on Feb. 20, at 2:30 p.m. ET for its regular season NASCAR Cup Series debut at the 64th annual DAYTONA 500. (The Marketing Arm images for Goodyear)

Goodyear shall actively pursue strategic alternatives for its chemical business, its off-the-road equipment tyre business, its Dunlop Brand, according to the company.

The decision to pursue alternatives is part of a Goodyear Forward transformation plan that is focussed to attain gross proceeds of more than USD2bn from the optimisation of the portfolio, according to the company. With the plan, the company also aims to deliver significant expansion of margin and reduce leverage to drive sustainable and substantial shareholder value creation.

The company also quoted that it’s CEO and President Richard Kramer shall retire in 2024. He has been on the position for the last 14 years.

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The board has also employed an executive search firm for finding its next CEO.

The US-based multi-national purchases petrochemical-based and other raw materials. It also produces and sells rubber-related chemicals for varied applications.

The company’s manufacturing operations in the US comprises four chemical plants.

 

Source: https://www.rubbernews.com/tire/goodyear-demonstrates-tire-tech-prowess-nascars-75th-season
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Chem Dive Team

Chem Dive Team

Welcome to the insightful world of chemical knowledge! I'm Mahima Mehta, a seasoned content writer with a passion for all things chemical. With 15 years of experience in the industry, I've dedicated myself to bringing you the latest developments, in-depth analysis, and engaging narratives from the realm of chemistry.

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