Goodyear to Review Farm Tire Business in India

The parent company has initiated a strategic review of Goodyear India's farm tire division to assess operational, financial, and strategic opportunities.

Angitha SureshBy Angitha Suresh calendar 21 Apr 2025 Views icon4122 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Goodyear to Review Farm Tire Business in India

Goodyear India Limited announced today that its ultimate parent company, The Goodyear Tire & Rubber Co., USA, intends to conduct a strategic review of the company's farm tire business operations in India.

The announcement came after a brief board meeting held on April 21, 2025, where directors noted the communication from the parent company regarding their plans to evaluate all strategic, operational, and financial opportunities related to the farm tire business segment.

In a regulatory filing to the BSE, Goodyear India clarified that the potential outcome of the strategic review remains unknown, and there is no assurance that the review will result in any transaction implementation. The company has committed to making necessary announcements and disclosures in accordance with SEBI regulations and other applicable laws when required.

The Board of Directors meeting, which addressed this matter, lasted only 15 minutes, starting at 11:40 AM and concluding at 11:55 AM.

Goodyear India operates as a subsidiary of the global tire manufacturer Goodyear Tire & Rubber Company. The farm tire division produces specialized tires for agricultural machinery and equipment, serving the agricultural sector across India. The company is listed on the Bombay Stock Exchange with the scrip code 500168.

The farm tire market in India has faced challenges in recent years, including fluctuating raw material costs, competition from both domestic and international players, and changing agricultural practices. Industry analysts note that several global tire manufacturers have been reassessing their specialized divisions to optimize operations and focus on core growth areas.

Goodyear India's corporate office is located in Gurgaon, Haryana, while its registered office is in Faridabad. The company has been operating in India for several decades, providing tires for various vehicle segments including passenger cars, commercial vehicles, and agricultural equipment.

RELATED ARTICLES
Ather Energy IPO Subscribed 1.5x, Signals Revival of Mainboard Market

auther Autocar Professional Bureau calendar01 May 2025

Strong retail and employee participation help Ather sail through IPO; anchor round valuation places it at a premium to l...

April 2025 PV Sales Preview: Momentum Sustains, But Inventory and Retail Weakness Raise Red Flags

auther Autocar Professional Bureau calendar30 Apr 2025

Mahindra & Mahindra (M&M) is leading the charge and is expected to retain its position as the second-largest PV manufact...

AKWEL Reports €255.6M in Q1 2025 Turnover Amid Global Automotive Market Slowdown

auther Arunima Pal calendar30 Apr 2025

Regionally, the EMEA zone (Europe, Middle East, and Africa) remained AKWEL's largest contributor with €170.7 million in ...