KOBE, Japan -- Japan's Sumitomo Rubber Industries announced Wednesday that it will acquire the Dunlop tire brand for Europe, North America and Oceania from U.S.-based Goodyear Tire & Rubber.
Through the deal valued at $526 million, Sumitomo Rubber -- which already sells Dunlop-brand tires in Japan and parts of the rest of Asia -- will be able to reach out to customers globally. The company aims to strengthen its sales to car manufacturers in Europe and the U.S.
