Goodyear Close on Unit Sale

(Akron/Tire Review) Tyre and rubber industry analysts expect Goodyear to sell off its engineered products unit within the next few weeks, according to media reports. Continental AG has repeatedly said it was interested in acquiring the business from Goodyear, but it is not known if the German tyre and automotive system maker is close to a deal.

The sale price, according to the reports, could exceed $1 billion.

Among its product portfolio, Goodyear’s engineered products unit produces automotive belts and hoses, and industrial conveyor belts.