Goodyear sells the Dunlop tire brand

Goodyear is selling its Dunlop tire brand to Japanese manufacturer Sumitomo Rubber Industries. Under the terms of the agreement, the brands and intangible assets required to operate the brand business in Europe, North America and Oceania will be transferred to SRI for the price of 701 million US dollars (equivalent to 681 million euros). Under the terms of the agreement, Goodyear will continue to use the Dunlop name for truck and motorcycle tires in Europe for five years. (aum)