AKRON (June 27, 2005) — Goodyear has agreed to sell its Wingtack adhesives resins business to Sartomer Co. Inc. for about $65 million.
The deal, which is subject to customary closing conditions and approvals, includes Goodyear's manufacturing operation in Beaumont, Texas. That operation is adjacent to Goodyear's synthetic rubber production facility, which will continue to supply raw materials for Wingtack production. Exton, Pa.-based Sartomer is a unit of the French energy firm Total S.A.
“A profitable business with high quality products, adhesives resins are not core to our chemicals operation, which is increasingly focused on supplying our tire businesses with synthetic rubber,” said Robert Keegan, Goodyear's chairman and CEO.