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Goodyear selling rubber plantation to Bridgestone; Tire firm says goodbye to NR business.(News)
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Rubber & Plastics News
- Article date:
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December 13, 2004
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Copyright informationCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mike McNulty
Goodyear is exiting the natural rubber plantation business while Bridgestone Corp. is expanding its holdings.
Goodyear plans to sell its 95-percent interest in Indonesia-based Goodyear Sumatra Plantations to Bridgestone for an undisclosed amount within the next several weeks. The firm said it is selling the plantation because it doesn't fit with the company's core businesses of tire manufacturing, synthetic rubber, engineered products and chemicals production.
The Hevea rubber plantation, located on one of the largest rubber estates in North Sumatra, Indonesia, is the last one owned by Goodyear, which acquired it in 1977.
Bridgestone said ...
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