Goodyear chemicals sale rolls on.

Byline: Josh Kosman

Goodyear Tire & Rubber Co. this week is moving ahead with the sale of its rubber chemicals business, despite receiving conditional and underwhelming offers, sources said.

One of the world's largest tire companies, Akron, Ohio-based Goodyear has been suffering from operational and financial problems, including lost market share and rising raw material prices. The chemicals business, which makes the compounds used in manufacturing tires, is seen as one of the only noncore assets Goodyear can sell to raise cash.

But bidders are expressing nervousness about buying the division, which generates more than half its revenue by selling …