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Goodyear Engineered Products Sells Plastics Business

14 July 1997

Goodyear Engineered Products Sells Plastics Business

    JACKSON, Ohio, July 14 -- Goodyear's Engineered Products
Division announced today that it has sold its engineered composite business
here to Cambridge Industries, a major automotive supplier of interior,
exterior and functional components produced with plastics.
    Purchase price for the business was $43 million.
    The Jackson business, located 75 miles southeast of Columbus, is a major
supplier of reinforced plastics products for the automotive industry.
Cambridge, a world leader in automotive plastics products, is based in Madison
Heights, Mich.
    The Jackson business was part of the company's Engineered Products
Division.  Since 1994, the non-tire division has expanded its core businesses
in China, Australia, South Africa, Europe, Latin America and North America
through acquisitions and joint ventures.
    Terry Persinger, vice president and general manager for Engineered
Products, said, "We will continue to restructure our businesses to concentrate
where we can excel globally.  Our acquisitions will focus on core competencies
that are synergistic with our tire, chemical and engineered products
technologies and worldwide distribution."
    Goodyear Chairman Sam Gibara said the non-core divestiture supports the
company's strategy for growth and productivity.  The Akron, Ohio, company has
used cash flow and divestiture proceeds to fund its growth.
    Goodyear's Engineered Products Division, with more than $1.2 billion in
sales last year, includes core businesses in conveyor and power transmission
belts, air springs, hose, molded rubber products and transportation
replacement products.

SOURCE  Goodyear