M&A Deal Summary

Hyosung Acquires Goodyear Tire Fabric

On September 7, 2006, Hyosung acquired manufacturer Goodyear Tire Fabric from Goodyear Tire & Rubber for 80M USD

Acquisition Highlights
  • This is Hyosung’s 1st transaction in the Manufacturing sector.
  • This is Hyosung’s largest (disclosed) transaction.
  • This is Hyosung’s 1st transaction in the United States.
  • This is Hyosung’s 1st transaction in Alabama.

M&A Deal Summary
Date 2006-09-07
Target Goodyear Tire Fabric
Sector Manufacturing
Buyer(s) Hyosung
Sellers(s) Goodyear Tire & Rubber
Deal Type Divestiture
Deal Value 80M USD

Target

Goodyear Tire Fabric

Decatur, Alabama, United States
Goodyear Tire Fabric is a tire-cord manufacturing operation with plants in Decatur, Ala.; Utica, N.Y.; Brazil; and Luxembourg.

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Buyer(S) 1

Buyer

Hyosung

Seoul, South Korea
Category Company
Founded 1966
Sector Manufacturing
Employees623
Revenue 533.2B KRW (2023)
DESCRIPTION

Hyosung is an industrial conglomerate. The Company operates in various fields, including the chemical industry, industrial machinery, IT, trade, and construction. Hyosung was founded in 1966 and is based in Seoul, South Korea.

DEAL STATS #
Overall 1 of 2
Sector (Manufacturing) 1 of 2
Type (Divestiture) 1 of 2
State (Alabama) 1 of 1
Country (United States) 1 of 2
Year (2006) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-10 Goodyear Wire Business

Asheboro, North Carolina, United States

The Goodyear Wire Business manufactures tire reinforcement wire in Asheboro, North Carolina and Colmar-Berg, Luxembourg.

Buy $50M

Seller(S) 1

SELLER

Goodyear Tire & Rubber

Akron, Ohio, United States
Category Company
Founded 1898
Sector Automotive
Employees71,000
Revenue 20.1B USD (2023)
DESCRIPTION

Goodyear Tire & Rubber is a manufacturer of tires for automobiles, commercial trucks, light trucks, SUVs, race cars, airplanes, farm equipment and heavy earth-mover machinery. Goodyear Tire & Rubber was founded in 1898 and is based in Akron, Ohio.

DEAL STATS #
Overall 2 of 5
Sector (Manufacturing) 1 of 2
Type (Divestiture) 2 of 4
State (Alabama) 1 of 1
Country (United States) 1 of 3
Year (2006) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-02-25 Eliokem International SAS

Villejust, France

Eliokem International SAS is a manufacturer and marketer of speciality chemicals used in paints, masonry coatings, rubber, plastic, printer toners, textiles and latex.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-31 Veyance Technologies

Fairlawn, Ohio, United States

Veyance Technologies, Inc. manufactures and sells Goodyear Engineered Products-branded industrial power transmission products; heavy-duty and lightweight conveyor belts; hydraulics; rubber track; and automotive and heavy-duty truck belts, hose, tensioners and air springs.

Sell $1.5B
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