Goodyear Tire & Rubber Company has agreed to sell the majority of its chemical business to private equity firm Gemspring Capital Management for approximately USD 650 million in cash.

The transaction, part of Goodyear's strategic transformation plan, includes facilities in Houston and Beaumont, Texas, along with a research office in Akron, Ohio. The deal is expected to close by late 2025, subject to regulatory approval and other customary conditions.

Goodyear Chemical produces synthetic rubber and serves the automotive aftermarket, consumer and industrial sectors across North America. The business has been under strategic review as part of the company's broader Goodyear Forward transformation initiative.

"With the sale of our chemical business, we continue to demonstrate our commitment to optimising our portfolio and creating shareholder value," said Mark Stewart, Goodyear's chief executive and president. "We are grateful to our Goodyear Chemical associates who have driven the success of this business. We will work closely with Gemspring to help ensure a smooth transition for our associates, customers and suppliers."

Mathew Wallace, Managing Director, Gemspring, remarked: "We look forward to unlocking the full potential of Goodyear Chemical as a standalone business and supporting its next chapter of growth and innovation. Goodyear Chemical is an industry leader, underpinned by deep customer relationships, a mission-critical product portfolio, a track record of innovation, and incredibly talented employees. We are grateful to the Goodyear team who have driven the success of the business to date and are committed to working closely with Goodyear to ensure a smooth transition for associates, customers, and suppliers."

Tesham Gor, a Gemspring Executive Advisor who is expected to become Chief Executive Officer of the Business, added, "We are excited to advance Goodyear Chemical's industry positioning by leveraging our strategic, financial, and industry expertise to continue delivering world-class elastomer technologies and engineered solutions to our customers. As a standalone entity, the Business will be well positioned to accelerate product development, expand its relationships with existing and new customers globally, deliver sustainable solutions, continue to invest in its people, and drive growth and innovation through commercial, technical, and operational excellence."

The deal includes a long-term supply agreement between the two companies, though specific terms were not disclosed. Goodyear plans to use proceeds from the sale to reduce debt and fund initiatives related to its transformation plan.

The Akron, Ohio-based company will retain chemical facilities in Niagara Falls, New York, and Bayport, Texas, maintaining rights to products manufactured at those locations.

Lazard served as lead financial adviser to Goodyear, with Deutsche Bank acting as financial adviser and Squire Patton Boggs providing legal counsel.

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India’s Balkrishna Industries Ltd (BKT) has strengthened its original equipment (OE) business with three senior appointments across France and South America, as the off-highway tyre maker accelerates its 2030 growth strategy.

The company said the hires mark a further step in its plan to expand in priority markets and reinforce its position as a global OE partner through technical collaboration and deeper engagement with equipment manufacturers.

In France, BKT has appointed Rémi Morin as Brand Specification Manager. Morin, who has more than 12 years’ experience with a global OEM and a decade in smart farming, mobility and innovation, will lead the firm’s engagement with tractor dealers. BKT said the role is designed to align product development more closely with the needs of OEMs, dealers and end-users in a market where the company already has a strong aftermarket presence.

In South America, BKT has added Cadu Accica as Head OEM South America and Lincoln Sugimoto as OEM Technical Manager South America.

Accica brings 19 years of experience in the specialty tyre sector across Latin America, with a track record in business development, marketing and sales. He will oversee OE partnerships with a focus on customer proximity and long-term collaboration.

Sugimoto, an engineering and project management specialist with 15 years’ experience in the specialty tyre and material-handling industries, will provide technical support to OEMs in the region and drive innovation and operational efficiency.

“These appointments reflect our bold commitment to scaling our OE business worldwide — with Europe and South America being critical parts of that journey. Remi, Cadu, and Lincoln bring passion, expertise, and a shared belief in performance through partnership and innovation. Their arrival enhances our ability to engage with OEMs at the highest level and deliver long-term value across regions. We are building a team that will transform our strong ambitions into reality at a global level,” said Ludovic Revel, President Global OEM, BKT.

BKT said the latest hires follow recent additions to its OE teams across Europe, Africa and the Middle East. The company added that it is now positioned to expand its OE footprint across agricultural, industrial and OTR segments as part of its long-term strategic plan.

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A Legacy of Trust: Abu Dhabi Tyre Company Since 1969.

For over fifty years, Abu Dhabi Tyre Company has been a key player in the UAE's tyre industry. Since 1969, the company has served as the authorised distributor for the globally recognised FIRESTONE brand, specialising in high-quality Truck and Bus Radial (TBR) Tyres.

The company’s slogan—"Whatever you drive, drive a Firestone"—underscores its commitment to quality and service, as well as its focus on the TBR market, where durability is a paramount concern.

New Leadership to Steer Future Growth

Abu Dhabi Tyre Company marks a significant milestone by appointing Dr Amr Anwar as General Manager, effective May 1, 2025. Dr Anwar brings extensive knowledge and a clear vision to the role. He earned a Doctor of Business Administration (DBA) and Master degree - MBA in Business Administration.

With this strong foundation, Dr Anwar is well-positioned to lead the company through its next phase of growth and operational development.

A Commitment to Operational Excellence and Market Presence

Upon assuming leadership, Dr Anwar outlined his strategy to strengthen customer relationships, with a particular focus on the commercial sector.

"I will relentlessly strengthen our operational excellence and expand our market dominance," declared Dr Anwar. "My mission is clear: every commercial fleet in the UAE will turn to Abu Dhabi Tyre Company for critical TBR solutions. We will not just honour the Firestone legacy—we will set new industry standards as indispensable partners."

Looking Ahead

As Abu Dhabi Tyre Company moves forward under new leadership, it remains committed to the principles of quality, service, and customer satisfaction that have defined it since its inception in 1969. The company stated, “We are confident that Dr. Anwar’s strategic leadership will solidify our position as the leading Firestone TBR distributor in the UAE and ensure our continued success for decades to come.”

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Bridgestone India, a leading tyre manufacturer, has announced the appointment of Rajarshi Moitra as its new Managing Director, effective 1 January 2026. He currently serves as the Deputy Managing Director and succeeds Hiroshi Yoshizane, who has served as Managing Director since January 2024 and as Group President, Bridgestone Asia Pacific, India, China (BSAPIC) since May 2025.

Yoshizane will be promoted to Vice-President and Senior Officer of Bridgestone Corporation, effective 1 January 2026. He will continue to serve as BSAPIC Group President, Chairman of the Board of Bridgestone India and Vice Chairman of the Automotive Tyre Manufacturers’ Association.

In these roles, Yoshizane will provide strategic guidance to Bridgestone India and contribute to the growth of the industry.

Rajarshi Moitra, said, “I’m deeply honoured to take on the role of Managing Director and to continue supporting our teams at Bridgestone India, with whom I have worked so closely over the past few years. I look forward to continuing to work in alignment with Bridgestone’s essence and its unchanging mission of ‘Serving Society with Superior Quality’, as we serve our customers, OEM partners and communities at large.”

Hiroshi Yoshizane, said, “Bridgestone India has been an important part of Bridgestone’s growth journey globally, and it has been a privilege to work with such a passionate and capable team driving that progress. Together, we have strengthened our business operations, expanded our market presence, enhanced Safety & Quality, and planted important seeds for the future through initiatives in R&D, social contribution, and sustainability. The team’s strong commitment to serving customers and communities has created a solid foundation for continued success. As I continue my responsibilities as Group President of BSAPIC and Chairman of the Board of Bridgestone India, I look forward to supporting its continued growth under Rajarshi’s capable leadership.”

Moitra has over two decades of experience in Business Strategy, Profit Centre Management, Sales & Marketing and leading transformations. He joined Bridgestone India in 2019 to lead the Consumer business. He expanded his roles to include Consumer & Commercial Business, Solution Business, Logistics & Supply Chain Management. He became Executive Director – Sales & Marketing in June 2024 and Deputy Managing Director in May 2025.

Bridgestone India states that the new leadership structure will help it continue its transformation toward becoming a solutions company, guided by the ‘Bridgestone E8 Commitment.’

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Albourgh Tyres, a brand owned by Heuver Group, has appointed Armando Lima Santos as Sales Manager for Latin America region. This strategic placement is in line with Albourgh Tyres’ global expansion plans after a successful introduction of the first tyre lines for truck and trailer on the European market during the last three years.

Santos brings over 17 years of experience and expertise in truck and OTR tyres and has been associated with major tyre companies like Goodyear, Bridgestone, Tiresur and Prinx Chengshan in the past. In his new role, he will focus on developing the Latin American market, a key step in strengthening Albourgh Tyres’ global presence.

Santos said, “LATAM will be a strategic engine to accelerate Albourgh’s worldwide relevance and reinforce Heuver’s international footprint – with stronger portfolio depth, proximity, scale and customer-centric execution. I’m excited to help build this together – developing long term partnerships in the region and capturing this huge potential with the Heuver family.”

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