Akron, Ohio --Goodyear has agreed to sell its Wingtack adhesives resins business to Sartomer Co. Inc. for about $65 million.
The deal is subject to customary closing conditions and approvals, and includes Goodyear's manufacturing operation in Beaumont, Texas. That facility is adjacent to a Goodyear's synthetic rubber plant, which will continue to supply raw materials for Wingtack production. Exton, Philiadelphia-based Sartomer is a unit of the French energy firm Total SA.
"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 chairman and CEO.
Press release from Goodyear