M&A Deal Summary

Hyosung Acquires Goodyear Wire Business

On June 10, 2011, Hyosung acquired manufacturer Goodyear Wire Business from Goodyear Tire & Rubber for 50M USD

Acquisition Highlights
  • This is Hyosung’s 2nd transaction in the Manufacturing sector.
  • This is Hyosung’s 2nd largest (disclosed) transaction.
  • This is Hyosung’s 2nd transaction in the United States.
  • This is Hyosung’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2011-06-10
Target Goodyear Wire Business
Sector Manufacturing
Buyer(s) Hyosung
Sellers(s) Goodyear Tire & Rubber
Deal Type Divestiture
Deal Value 50M USD

Target

Goodyear Wire Business

Asheboro, North Carolina, United States
The Goodyear Wire Business manufactures tire reinforcement wire in Asheboro, North Carolina and Colmar-Berg, 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 2 of 2
Sector (Manufacturing) 2 of 2
Type (Divestiture) 2 of 2
State (North Carolina) 1 of 1
Country (United States) 2 of 2
Year (2011) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-07 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.

Buy $80M

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 5 of 5
Sector (Manufacturing) 2 of 2
Type (Divestiture) 4 of 4
State (North Carolina) 1 of 1
Country (United States) 3 of 3
Year (2011) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-16 Däckia AB

Taby, Sweden

Däckia AB is a multi-brand tyre distribution chain in Sweden.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-06 Nippon Giant Tire

Tatsuno, Japan

Nippon Giant Tire (NGT) is a wholly owned subsidiary of Goodyear. It is based in the Tatsuno area of Japan and manufactures Off-The-Road (OTR) tires in its high-technology facility for Goodyear's customers.

Buy -
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