From Tire Review

Goodyear Tire & Rubber Co. has agreed to sell its global wire business to South Korea-based Hyosung Corp. in a deal worth an estimated $50 million.

The business produces tire reinforcement wire from plants in Asheboro, N.C., and Colmar-Berg, Luxembourg, and employs about 600 people.

In addition, Goodyear has agreed to become one of Hyosung’s largest wire customers, signing a multi-year supply deal as part of the sales agreement.

Hyosung has produced tire reinforcements since 1968, with operations in South Korea, Brazil, China, Luxembourg, Vietnam and the U.S. Goodyear sold its global tire fabric operations to Hyosung in 2006 for $80 million; that business included plants in Americana, Brazil; Colmar-Berg, Luxembourg; Decatur, Ala.; and Utica, N.Y.