AKRON (Nov. 30)—Goodyear will sell its 95 percent interest in Indonesia-based Goodyear Sumatra Plantations to Bridgestone Corp. for an undisclosed amount.
The two tire makers entered into an agreement in principle Nov. 30 on the sale of the Hevea natural rubber plantation and said several approvals from government agencies in Indonesia are needed before the pact is completed.
Goodyear said its decision to sell the operation is consistent with its strategy to focus on its core activities, including manufacturing tires, synthetic rubber and engineered products. The company said the transaction will not impact its ability to purchase rubber.
Goodyear Sumatra Plantations began operation in 1917 and is one of the largest rubber estates in North Sumatra, Indonesia. The business has about 5,000 employees.