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Goodyear and Akzo.

Acquisitions, expansions

An agreement in principle has been formed between Goodyear and Akzo, based in Arnhem, The Netherlands, which calls for Akzo to purchase Goodyear's polyester tire cord and fabric plant in Scottsboro, AL, for approximately $105 million. The sale is subject to the negotiation of a definitive contract of sale, and governmental and other necessary consents or approvals, including Goodyear's board of directors. Proceeds of the sale will be used to reduce company debt, Goodyear said. The plant began production in 1970 and currently employs 600. Upon completion of the sale, the workforce will become Akzo employees.
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Title Annotation:Business Briefs: Acquisitions, expansions; Akzo Chemie buys Goodyear plant
Publication:Rubber World
Article Type:Brief Article
Date:Aug 1, 1991
Previous Article:Economic slump hits machinery suppliers.
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