Other aspects of the current agreement include:
• Goodyear will retain exclusive rights to sell Dunlop-brand tires to non-Japanese vehicle makers in North America.
• Goodyear will acquire SRI's 25 percent interest in Goodyear Dunlop Tires Europe B.V., including six former Dunlop Tyre tire plants, in Amiens and Mont-lucon, France; and Furstenwalde, Ha-nau, Riesa and Wittlich, Germany.
• Goodyear's Dunlop-brand rights in Europe cover motorcycle and racing tires in addition to consumer and commercial tires.
• SRI will obtain exclusive rights to sell Dunlop-brand tires in certain countries that were previously non-exclusive under the global alliance, including Russia, Turkey and certain countries in Africa. SRI has a plant under construction in Turkey and in late 2013 acquired the Dunlop-brand rights throughout most of Africa and the Middle East from Apollo Tyres Ltd.
• Goodyear will acquire SRI's 75 percent interest in Nippon Goodyear Ltd., which serves the replacement market in Japan with Goodyear-brand tires.
• SRI will acquire Goodyear's 25 percent interest in Dunlop Goodyear Tires Ltd., which serves the OE market in Japan with Goodyear- and Dunlop-brand tires.
• Goodyear will regain exclusive rights to serve the Japanese replacement and OE markets with Goodyear-brand tires, a business channel Good-year noted has been under Sumitomo's control for the past 16 years.
• SRI will continue to have exclusive rights to sell Dunlop-brand tires in the Japanese replacement and OE markets.
The SRI Global Purchasing Co. (SRI 20 percent/Goodyear 80 percent) and Goodyear—SRI Global Technology L.L.C. (SRI 49 percent/Goodyear 51 percent) will be dissolved as part of the agreement.
As a result of the pact, Goodyear will sell its 3.4 million shares of SRI common stock, which could result in a gain of roughly $59 million, based on current share prices.
Goodyear said it expects the transaction to be accretive to its earnings beginning in the first quarter of 2016.
Based on the company's 2015 operating plan, Goodyear said it should realize an annual benefit to adjusted net income of approximately $40 million to $50 million, or 15 to 18 cents per share.
The transaction is subject to customary closing conditions, including the receipt of regulatory approvals as well as SRI's completion of a labor agreement with the United Steelworkers union for the Tonawanda plant, the companies said.