AKRON (Nov. 30, 2004) — Goodyear has agreed to sell its 95-percent stake in an Indonesian rubber plantation to Bridgestone Corp. of Japan.
Terms of the deal for Goodyear Sumatra Plantations (GSP) were not disclosed.
Akron-based Goodyear said its decision to sell its stake in GSP is consistent with its strategy to focus on core business activities, including manufacturing and selling consumer and commercial tires as well as producing synthetic rubber.
Goodyear added the sale will not impact its ability to acquire natural rubber for its operations.
The deal will be completed following various approvals in Indonesia.