Gemspring Capital Management, LLC /
Goodyear Chemical business
Gemspring Capital Management to buy Goodyear Chemical business
What happened
Gemspring Capital Management, LLC agreed to buy the majority of The Goodyear Tire & Rubber Company’s Goodyear Chemical business. The business produces synthetic rubber and serves automotive aftermarket, consumer and industrial markets.
Gemspring will pay approximately $650 million in cash for facilities in Houston and Beaumont, Texas, and a related research office in Akron, Ohio. The transaction also includes a long-term supply agreement.
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Gemspring Capital Management to buy Goodyear Chemical business
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