Goodyear confirms it may sell chemical business

AKRON (March 19)—Goodyear has confirmed that it is exploring the possible sale of its Goodyear Chemical operation as it looks "to both enhance its financial flexibility and focus future investments on its core business." The firm has retained Credit Suisse First Boston L.L.C. to advise on the possible divestiture. Goodyear Chemical has annual sales of more than $750 million and makes basic and high-performance polymers, antioxidants, latex and adhesive resins. It has its headquarters, research and development facilities, and a pilot plant in Akron. Manufacturing facilities are in Niagara Falls, N.Y., and Beaumont, Bayport and Houston, Texas. The business employs more than 1,400.