Goodyear Archives - Page 103 of 244 - 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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‘Surprise’ at Goodyear performance – Morgan Stanley

Analysts at Morgan Stanley have reported their “surprise” at Goodyear’s performance in the second quarter of the financial year. The reason they gave for being caught unaware by the US tyre maker’s 24 per cent increase in sales (to US$5.6 billion) and 66.7 per cent rise in net profit (to $40 million) is that “it came in a quarter of weak shipments and rising raw material headwinds.” Despite unit demand being slightly down, Goodyear’s price/mix of $552 million “comfortably beat” Morgan Stanley’s estimate of $450 million and segment operating income for its North American Tire business was $137 million with a margin of 5.7 per cent, which Morgan Stanley notes is the highest level in a decade and in line with the company’s medium-term target.

17th August 2011/by Tyrepress Editors

Goodyear supplies 100th xlite wheel set to Meiller

Goodyear has a supply deal with the xlite forged aluminium wheel brand across Europe; the tyre supplier has just reached the milestone of 100 orders completed with its tyres fitted on xlite products. German commercial vehicle body specialist Meiller is the recipient of the landmark order. It offers xlite and Goodyear wheel combinations on its tipping semitrailers, supplied in two and three axle, classic and halfpipe formats to carry loads of up to 39,000kg. Meiller uses forged aluminium wheels where specified by its customers in order to improve overload performance, especially when lifting the first trailer axle for better starting traction.

15th August 2011/by Tyrepress Editors

Cooper gains grant for fuel-efficient tyre development

Goodyear is not the only US tyre maker amongst the 40 companies that received grants from the United States Department of Energy’s Office of Vehicle Technology; Cooper Tire & Rubber is another beneficiary, and has been awarded US$1.5 million towards its project to develop a new class of fuel efficient tyres for the replacement market. The tyres Cooper develops, the Department of Energy explains, are expected to utilise innovative materials technology and tyre design concepts in order to improve overall fuel efficiency by three per cent.

12th August 2011/by Tyrepress Editors

Hands-off optimum inflation the goal of US/European Goodyear research

Goodyear Tire & Rubber says it is developing a product that may make manual tyre inflation a thing of the past. The US-based manufacturer is working on what it calls ‘Air Maintenance Technology’, or AMT for short. What is potentially revolutionary about AMT is that Goodyear says the system now under development in its research and development centres will enable tyres to remain inflated at the optimum pressure without the need for any external pumps or electronics, thus eliminating excess fuel costs caused by incorrect tyre inflation. All AMT components, including the miniaturised pump, will be fully contained within the tyre.

12th August 2011/by Tyrepress Editors

Aviation authority reports cold weather hazard for Goodyear inner tubes

Several reports of inner tube failure during cold weather operations have prompted the Federal Aviation Administration in the US to issue a Special Airworthiness Information Bulletin warning of possible failures involving butyl rubber inner tubes manufactured by Goodyear Aviation Tires. The bulletin has been issued as a recommendation and the FAA states that at present the inner tube failure in question does not constitute a safety issue that would warrant airworthiness directive action.

10th August 2011/by Tyrepress Editors

Conti OE for Mercedes CLS, vans

Continental has announced its latest two original equipment contracts with Mercedes-Benz. The German tyre maker will supply tyres for the CLS saloon and high-end versions of the Mercedes Viano and Vito vans.

8th August 2011/by Tyrepress Editors

Bloodbath at the stock exchange

The bloodbath at the stock exchange continues, with share prices of all the leading tyre makers falling sharply. The attention grabbing headline news is set-against strong half year figures from all leading tyre manufacturers which range from very good to excellent. And it is more than likely that the industry will set new record figures at the end of the year in terms of turnover and profit, which in normal circumstances virtually guarantees rising share prices. However, for the last 10 days the contrary has been true.

5th August 2011/by Tyrepress Editors

Goodyear India Awarded Superbrand Status

Goodyear India Ltd was awarded the 'Superbrand' status at a ceremony held in New Delhi 3 August. The award was received by Rajeev Anand, vice chairman and managing director, Goodyear India Ltd. Goodyear India garnered one of the highest scores amongst an assortment of companies and is reportedly the only tyre company in India to receive this recognition.

4th August 2011/by Tyrepress Editors

Goodyear declares dividend on 5.875% preferred stock

Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of 73.44 cents per share of mandatory convertible preferred stock. The dividend is payable October 1, 2011, to shareholders of record on September 15, 2011. The payout represents an annual rate of US$2.9375 per share.

3rd August 2011/by Tyrepress Editors

Goodyear names newest Board member

A 13th member has been appointed to Goodyear Tire & Rubber’s Board of Directors. This newest member is William J. Conaty, retired senior vice president of human resources for the General Electric Company.

2nd August 2011/by Tyrepress Editors

Goodyear OE for Mercedes-Benz CLS

Mercedes-Benz has selected the Goodyear Eagle F1 Asymmetric 2 as an original equipment fitment for its new CLS. The Goodyear tyre, which was launched earlier this year, will be fitted on the four-door performance coupé in size 255/40R18. This newly-announced OE fitment, Goodyear Dunlop notes, is one of 30 original equipment deals involving the tyre.

22nd July 2011/by Tyrepress Editors

Goodyear’s Fioroni promoted

Goodyear Tire & Rubber has promoted Roberto Fioroni to vice president and general auditor, effective August 1. Currently finance director for Goodyear’s Eastern Europe, Middle East and Africa operations, Fioroni replaces Rich Pegher, who left the company to pursue other opportunities. In his new position, Fioroni will report to executive vice president and CFO Darren Wells and remain part of the Goodyear’s global finance leadership team.

21st July 2011/by Tyrepress Editors

Subsidised imports killed Goodyear plant – USW

The United Steelworkers union has expressed its disappointment in the notification of redundancy given to workers at Goodyear’s Union City factory. In a press statement, USW International president Leo W. Gerard said “we are very angered by the company’s announcement yesterday to close its Union City, Tennessee facility. The harm being done over the years by our government’s inaction and manufacturers’ ongoing deindustrialisation of the economy is relentless. Unfortunately, nothing we can say minimises the impact this decision has on the lives of our members who work there, their families and the community. But we will continue to fight to help them in this tragic situation.”

15th July 2011/by Tyrepress Editors

Goodyear to announce 2Q 2011 financial results

Goodyear’s Richard J. Kramer, chairman and chief executive officer, and Darren R. Wells, executive vice president and chief financial officer will participate in an investor conference call following the company’s second quarter 2011 financial results report. The report will be delivered before markets open on Thursday, 28 July, with the call following at 10:00 EST (15:00 GMT). The financial information will be posted on Goodyear’s investor relations website at around 9:45 EST. Goodyear also says that the call can be accessed on the website or via telephone by calling (706) 643-2869 before 9:55 on July 28. A taped replay will be available later that day by calling (404) 537-3406, Conference ID 83080825, and on the website.

14th July 2011/by Tyrepress Editors

Goodyear acknowledged for blood donation, water safety programmes

Goodyear is well known for its tyres, yet more than a few people may be surprised to learn that the company has also been involved in the blood donation business for almost six decades. Since 1952, workers at the US-based firm’s headquarters have donated a total of 182,663 pints of blood – that’s 86,431 litres – for use at local hospitals. These employee donations have benefitted 547,989 patients over the years, and Goodyear’s long-term dedication to blood donation has now earned the company the “2010 Top Corporate Blood Donor Award” from Northern Ohio Red Cross Blood Services. The award was recently presented to Goodyear chief health officer Brent Pawlecki.

13th July 2011/by Tyrepress Editors