Goodyear said it plans to complete the sale of its Brazil operation to Hyosung in the first quarter of this year, pending government and regulatory approvals.
The two companies have signed a multi-year supply agreement, as well, that Goodyear said could provide it with cost savings and improved cash flow.
Goodyear’s global tire fabric operation includes plants in Americana, Brazil; Colmar-Berg, Luxembourg; Decatur, Ala., and Utica, N.Y.