Goodyear is going big in China with $2.8 billion takeover of Cooper

Goodyear was already the world’s third largest tire manufacturer after Japan’s Bridgestone (BRDCY) and France’s Michelin. It will retain that spot after the deal, though its global annual sales total will rise to some $15 billion from the $12.3 billion that Goodyear currently makes.

This purchase, though, is particularly significant for how much traction it gives Goodyear in China, which together with the United States accounted for about a third of the global production of tires in 2019. China is also the world’s largest car market, and an increasingly attractive destination for players in the auto industry to put down

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