Goodyear, FMC plan asset sales

Goodyear Tire & Rubber and FMC are the latest firms planning to divest businesses to sharpen their portfolios in anticipation of lean economic times. Goodyear is exploring strategic alternatives—which normally include a possible sale—of its chemical business. The unit has annual sales of about $1 billion, half of which are to external customers and half to Goodyear itself. The business makes styrene-butadiene and polybutadiene rubber, as well as specialty chemicals like antioxidants. FMC is considering a sale of its Global Specialty Solutions business, which makes pesticides and other chemicals for noncrop markets like golf courses and sports stadiums. Other firms taking similar measure include Ashland, which plans to sell its nutraceutical business, and Lanxess, which is selling its urethane chemical division.