Goodyear Tire & Rubber of the US will today unveil the biggest ever US industrial deal in Japan by taking a controlling interest in the tyre business of Sumitomo Rubber Industries, the second largest Japanese tyre maker.

The deal, to be termed a global alliance between the two companies, will make Goodyear the largest tyre group in the world ahead of Michelin of France and Bridgestone of Japan.

It is likely to set off a wave of speculation about further consolidation in the $75 billion (€66 billion) industry and copycat US-into-Japan deals in other sectors.