Goodyear wraps sale to Carlyle

McNulty, Mike
August 2007
Rubber & Plastics News;8/6/2007, Vol. 37 Issue 1, p1
Trade Publication
The article reports that Goodyear Engineered Products will close one plant and beef up others in the U.S. and Canada as it moves out on its own. The one-time Goodyear Tire & Rubber Co. division was renamed Veyance Technologies Inc. shortly after the company Carlyle Group finalized a deal to buy it from Goodyear Tire for almost $1.5 billion. Goodyear Tire said it anticipates net proceeds of about $1.4 billion on the sale and expects to record an after-tax gain in the third quarter of 2007.


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