April 16, 2018 / 9:17 PM / 4 months ago

BRIEF-Goodyear Tire And Bridgestone Americas Announce Deal To Form A 50/50 JV

April 16 (Reuters) - Goodyear Tire & Rubber Co:

* GOODYEAR TIRE & RUBBER SAYS CO & BRIDGESTONE AMERICAS ANNOUNCED DEAL TO FORM A 50/50 JV - SEC FILING

* GOODYEAR TIRE & RUBBER CO - NO CASH WILL BE EXCHANGED BETWEEN PARTIES AS PART OF DEAL

* GOODYEAR TIRE & RUBBER CO - TOTAL ESTIMATED FAIR VALUE OF JV IS EXPECTED TO BE ABOUT $600 MILLION

* GOODYEAR TIRE & RUBBER CO - CO WILL RECORD PORTION OF FAIR VALUE OF TIREHUB AS AN EQUITY INVESTMENT ON CONSOLIDATED BALANCE SHEET

* GOODYEAR TIRE & RUBBER CO - ESTIMATED START-UP COSTS RELATED TO TIREHUB ARE ABOUT $40 MILLION & WILL BE SHARED EQUALLY BETWEEN CO & BRIDGESTONE

* GOODYEAR TIRE & RUBBER CO - CO EXPECTS TO RECORD MAJORITY OF SHARE OF START-UP COSTS IN OTHER INCOME & EXPENSE DURING FIRST & SECOND QUARTERS OF 2018

* GOODYEAR TIRE & RUBBER CO - CO INTENDS TO REPOSITION CERTAIN EXISTING THIRD-PARTY SALES VOLUME TO TIREHUB BEGINNING DURING Q2 OF 2018

* GOODYEAR TIRE & RUBBER CO - CO EXPECTS TIREHUB SALES TO INCLUDE EXISTING VOLUME FROM COWD BUSINESS AND TWW BUSINESS OF ABOUT 10 MILLION UNITS ANNUALLY

* GOODYEAR TIRE & RUBBER CO - CO EXPECTS A NEAR-TERM REDUCTION IN VOLUME OF UP TO 1.5 MILLION UNITS IN 2018

* GOODYEAR TIRE & RUBBER CO - COMPANY EXPECTS TRANSACTION WILL BE ACCRETIVE TO EARNINGS BEGINNING IN 2019

* GOODYEAR TIRE & RUBBER CO - COMPANY CONTINUES TO EXPECT ITS 2020 SEGMENT OPERATING INCOME TO RANGE BETWEEN $2.0 AND $2.4 BILLION

* GOODYEAR TIRE & RUBBER CO - COMPANY'S SHARE OF TIREHUB'S NET INCOME (LOSS) WILL BE RECORDED IN AMERICAS REGION'S SEGMENT OPERATING INCOME Source : bit.ly/2HE6Ruv Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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