Goodyear will keep chemical business
Goodyear Tire & Rubber Co. has decided not to sell its chemical business.
"Given its improved earnings, we believe the cash flows and cost advantages Goodyear derives from the (unit), as well as its positive contributions to the tire business, outweigh the benefits of a potential sale," says Goodyear Chairman and CEO Bob Keegan.
"The current and projected raw material market reinforces this decision."
Goodyear first announced it would explore a possible sale of its chemical business last year.