Printer Friendly

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.
COPYRIGHT 1991 Lippincott & Peto, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
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.
Next Article:Mitsubishi Gas Chemical.

Related Articles
Akzo's rubber chemicals group.
Akzo and DSM.
Akzo's Rubber Chemicals Group.
Goodyear Tire & Rubber.
Goodyear forms global alliance with Sumitomo.
Rhein Chemie to buy Elastochem assets.
Continental AG closes tire plants in Sweden, Austria. (Corporate Financial News).
Degussa, Engineered Carbons form 50/50 joint venture. (Contracts, Licenses).

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters