Goodyear to close US chemicals plants

Akron, Ohio – Goodyear Tire & Rubber has announced plans to close its chemical manufacturing facilities in Niagara Falls, New York and Bayport, Texas, impacting approximately 85 jobs.

In a 1 Oct SEC filing, the US tire maker said it expected to substantially complete the rationalisation plan by the end of 2027 and estimates the total pre-tax charges associated with this action to be between $55 million and $75 million (€49 - €66 million).

Of that amount, Goodyear said, $30 million is expected to be cash charges primarily for plant decommissioning and associate-related and other exit costs.

The remaining costs are expected to be non-cash charges primarily for accelerated depreciation and other asset-related charges.

The tire maker expects the actions to improve its Americas segment operating income by $15 million to $20 million annually beginning in 2027.

Goodyear completed the final round of its Goodyear Forward divestment plans with the sale of its ‘chemical business’ to an affiliate of private equity firm Gemspring Capital Management in October 2025. (ERJ report)

The business was sold for a purchase price of $650 million and included Goodyear’s chemical facilities in Houston and Beaumont, Texas, and a related research office in Akron, Ohio.

At the time Goodyear said it was retaining its facilities in Niagara Falls, and Bayport, and its rights to the products produced at these facilities.

According to Goodyear’s website, the Bayport facility produces antioxidant hydroquinone, meta and para DIPB, acetone and antioxidants.

The Niagara Falls facility produces Polystay branded antioxidant, antiozonant and anti-flex cracking agents.

Goodyear sold its OTR business to Yokohama Rubber (ERJ report) and its Dunlop brand to Sumitomo Rubber (ERJ report) last year as part of its 'transformation plan'.