Goodyear to keep unit
AKRON-Goodyear has decided not to sell its chemical business, which has been on the block since March 2003.
The company also said its North American tire unit was profitable in the second quarter, the first time in eight consecutive quarters.
The tire maker said it decided the chemical business is more valuable if it is retained, rather than sold. The unit has annual sales of about $750 million and employs about 1,400. It makes basic and high-performance polymers, antioxidants, latex and adhesive resins.
Goodyear also said it expects to report second-quarter sales of about $4.5 billion, up from $3.8 billion last year.
Scrap tire reuse growing
WASHINGTON-About 80 percent of the 290 million tires discarded in 2003 were recycled, and scrap tire stockpiles have been reduced by nearly 75 percent since 1990, according to a new Rubber Manufacturers Association report.
The RMA said the use of tire shreds in civil engineering jumped 41 percent since 2001.