Global tyre giant

Global tyre giant

GOODYEAR, the US tyre giant, yesterday merged its worldwide operations with Sumitomo Rubber of Japan creating the world's largest tyre maker with sales of $15.5bn (pounds 9.6bn).

The US company will be the dominant partner and will control the European and US businesses of the enlarged group after paying $936m to Sumitomo. The link will lead to 2,600 job losses in Goodyear's US workforce.