Tire manufacturer Goodyear and Sumitomo Rubber, Dunlop's parent company, have halted their collaboration. They had a deal going since 1999, but that deal has now run its course.
Not enough advantages
Back in 1999, the Dunlop-Goodyear joint venture meant that the number 3 and number 6 in the market had found each other in a deal that should have given them both multiple advantages.
It seems that is not as much the case as was anticipated, on top of a certain distrust between both companies. Goodyear had already mentioned last year it wanted out and the separation is now seemingly final.
Goodyear Dunlop's European branch would move to Goodyear, while Sumitomo Rubber would gain control of the joint venture's Japanese and American operations. Goodyear would also need to pay a 30 - 40 billion yen (220 - 300 million euro) sum for its share in the joint venture.