Goodyear Archives - Page 170 of 243 - Tyrepress

Founded in 1898 by Frank Seiberling, The Goodyear Tire & Rubber Company is an American multinational tyre manufacturing company based in Akron, Ohio. It is one of the oldest, biggest and best-known tyremakers in the world. Goodyear makes tyres for automobiles, commercial trucks, light trucks, motorcycles, SUVs, racing cars, aeroplanes, farm equipment and heavy earth-mover machinery. Find all the news and analysis you need relating to Goodyear here.

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The Winners Wear Goodyear

Engineers and designers at Goodyear Tire & Rubber are in high spirits after receiving word that the vehicles voted to be North American Car and Truck of the Year both ride on their products.

The announcement was made at the 2007 North American International Auto Show. The Car of the Year, the Saturn Aura (a US version of the Vauxhall/Opel Vectra), comes fitted with Eagle LS2 tyres inP225/50R18 size as OE equipment, while the Truck of the Year, Chevrolet’s Silverado, comes with 20-inch Eagle LS2 tyres as standard fitment for the Silverado SS model.

10th January 2007/by Tyrepress Editors

The Cost of Cutting Costs

The Goodyear Tire and Rubber Company have disclosed that the three-month USW strike cost them more than US$30 million a week.

Leading company executives said that Goodyear will continue to feel the strike’s financial impact through to the middle of the year, but the company has nevertheless achieved its goal of cutting costs.

Goodyear hopes to save US$610 million over a three-year period through the contract agreement that ended the strike.

10th January 2007/by Tyrepress Editors

Goodyear Announces Another Closure

Having already committed itself to closing plants in the US, Canada, UK and New Zealand, Goodyear tire & Rubber Co has announced its intention to close its manufacturing facility in Casablanca, Morocco, by the end of 2007. Approximately 150 jobs will be cut as a result of the closure.

9th January 2007/by Tyrepress Editors

Future Looking Brighter

With 2006 proving to be a tough year for the North American tyre industry, Continental AG Chief Executive Manfred Wennemer believes that things look set to improve in 2007.

Speaking to media at the North American International Auto Show, he pointed towards declining raw material costs, a potential upswing in replacement demand and reduced operating costs as signs of better times. “I am convinced 2007 will be a good tyre year” said Wennemer. “We do see there is some demand for the market that was not satisfied in 2006.”

9th January 2007/by Tyrepress Editors

Rio Tinto to Auction 120 EM Tyres

Rio Tinto, the large Australian mining company, has announced that it will be holding an online auction of heavy earthmoving tyres through DoveBid, Inc. The sale features over 120 radial and cross-ply tyres in both new and used condition, from major manufacturers – Bridgestone, Goodyear and Michelin. Assets are located in USA, UK and Australia. The sale will be held on 23 January 2007, commencing online at 9:00 (AEDT), and closing on 24 January at 17:00 (AEDT). DoveBid, Inc. is a global provider of capital asset management and valuation services. Headquartered in Los Angeles, California, USA, DoveBid has associates in 37 offices and 20 countries.

8th January 2007/by Tyrepress Editors

Goodyear Receives Higher Rating

With the hostilities between Goodyear and the USW now officially over, Standard & Poor’s have affirmed the B+ rating on Goodyear’s corporate credit and removed the company’s debt from negative CreditWatch.

The company was placed on CreditWatch in mid October 2006 due to the threat of business disruption and uncertain earnings during the strike period. Goodyear has a total debt of approximately US$12 billion.

Goodyear Tire & Rubber share prices leapt to a 52 week high in the first week of January following the announcement of the company’s revised credit status.

5th January 2007/by Tyrepress Editors

More Strike Related News

Some returning Goodyear strikers are feeling less than charitable towards their employer after reporting that their lockers at the factory had been tampered with during their absence and the contents taken or thrown away. In the words of Christine Lopez, a Goodyear employee, “You feel like you’ve been violated with your own personal belongings. Whether it’s Goodyear property or your own property, it’s property that you use while you’re at work.”

Not all employees have reported such incidents, and while USW officials say they are concerned, they state that the local contract agreements are their number one priority now everyone has returned to work.

4th January 2007/by Tyrepress Editors

Goodyear Offers Incentives to Slash Workforce

Goodyear is offering union employees retirement incentives of as much as US$40,000 in an attempt to cut their US workforce by 400 jobs. These incentives, or buyouts, are being offered at four of the company’s union plants as part of the new three-year contract ratified between Goodyear and the United Steelworkers of America.

The incentives, which are intended to help Goodyear reduce spending and compete against competitors with lower labour costs, will be offered to workers in February. Employees who accept the offer will be entitled to a once-off cash payment equal to US$2,000 for each year the have been employed by Goodyear, up to a maximum of US40,000. All employees taking up the offer will receive at least US$8,000, and will be eligible for the healthcare benefits given to retirees.

4th January 2007/by Tyrepress Editors

Goodyear to Close Canadian Plant

The Goodyear Tire & Rubber Company has announced its intention to discontinue the production of tyres at its facility in Quebec, Canada and transfer operations to a materials mixing centre. The changeover will take place by the end of the second quarter of 2007.
This decision comes as part of Goodyear’s global strategy of cost reduction, and will see a net job reduction of 800 hourly and salaried staff. The current plant in Valleyfield, Quebec employs approximately 1,000 persons.

4th January 2007/by Tyrepress Editors

Goodyear Finalises Sale of Tyre Fabric Operations

While most of us were struggling to get over Christmas, the Goodyear Tire & Rubber Company were busy finalising the sale of its tyre fabric operations to South Korea’s Hyosung Corporation. The deal was closed on December 29, pending post-closing adjustments and the sale of its operation in Americana, Brazil.

3rd January 2007/by Tyrepress Editors

Back to Business at Goodyear

With the USW strike now just an unpleasant memory for Goodyear, the tyremaker is boosting production to make up for any shortfalls in supply. The eleven week strike, which affected approximately 15,000 workers across North America, came to an end on December 22 after an agreement was reached between Goodyear and the United Steelworkers union. Workers began returning to work on January 2.

Goodyear has planned for a full supply of tyres to become available soon after the return of their hourly workers, with Jon Rich, president of Goodyear’s North American tyre unit stating “I have no doubt our associates will quickly return to their normal high levels of performance and productivity.”

3rd January 2007/by Tyrepress Editors

Speculation Grows as Goodyear and USW Talks Continue

With very little real information coming out of the negotiations between Goodyear and the USW, word of both positive and negative progress has filtered through the ranks of both parties’ supporters.

USW union leaders have reportedly commented that, despite the latest round of talks, Goodyear and the USW still have little common ground on the key issues behind the ongoing strike at Goodyear’s North American plants. A union spokesperson said that talks will continue, but added that when it comes to the future of the Tyler plant, the company has not deviated much from it’s original stance.

21st December 2006/by Tyrepress Editors

Goodyear, USW Resume Talks

Both Goodyear and the United Steelworkers Union have remained tight-lipped following negotiations conducted on December 18. The two parties met in a Pittsburgh hotel for the first formal talks in more than a month, and according to a union spokesperson, Goodyear made a presentation and USW negotiators took some time to review Goodyear’s information.

19th December 2006/by Tyrepress Editors

Judge Restricts Protests at Goodyear Factory

A judge in the US city of Topeka has imposed restrictions on union members picketing the city’s Goodyear Tire and Rubber Co. facility after Goodyear directed accusations of vandalism and harassment against them them. Shawnee County District Judge Charles Andrews issued a restraining order that prohibits the United Steelworkers union from having more than 25 pickets in front of the factory at any time. It also forbids union members from harassing Goodyear’s temporary employees or damaging property.

19th December 2006/by Tyrepress Editors

Striking Workers Offer to Supply Military

According to USW union officials some striking Goodyear workers may yet return to the company’s Topeka plant to build Humvee tyres for the US military. However the union insists that Goodyear must fire the plant’s temporary workers before any such move is made.

Production of Humvee tyres at the Topeka factory has dropped by 35 per cent since the strike began, creating a shortage for the military.

18th December 2006/by Tyrepress Editors