LONDON—Cooper Tire & Rubber Co. Europe Ltd., a part of Goodyear since mid-2021, is engaged in "advanced discussions" with an undisclosed third-party to potentially sell some of its Avon brand-related assets in the United Kingdom.
The negotiations concern "some of the assets used in the manufacturing and sale of certain motorsport tires under the names Avon Motorsport and Avon Racing," Goodyear confirmed to European Rubber Journal.
The tire maker said it is looking to conclude the discussions "soon" and would be able to provide further details once discussions have closed.
Established in Melksham, England, in 1904, Avon Tyres was acquired by Cooper Tire & Rubber Co. in 1997 and subsequently taken over by Goodyear as part of its 2021 purchase of Cooper Tire.
Goodyear did not comment on the identity of the third party.
Separately, however, a new motorsports venture, Nova Motorsports, was announced this week, promoting a line of racing and performance tires that overlaps to a large extent with the Avon Tyres product catalog. That entity has yet to disclose its plans for manufacturing, but the firm's website features photos of racing cars shod with Avon-brand tires.
As previously reported, Goodyear planned to cease production at the Melksham factory by year-end 2023.
