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.
While it finished tenth out of twelve overall in Auto Express’s tyre tests, Slovenia’s Sava – part of the Goodyear Dunlop group – scored particularly well in the noise test, beating all the other contenders, and was ranked in second place in the rolling resistance tests, in which it scored closest to the runaway winner of that test, Hankook.
While the big winner of consumer motoring magazine Auto Express’s annual tyre test was Continental, the German manufacturer had strong competition from Michelin, Goodyear and Dunlop, whose tested tyres all scored within a point of Conti’s. As with all comprehensive tyre tests, most segments favoured different tyres, and Goodyear’s Eagle F1 Asymmetric was ranked top in the wet handling and cornering tests.
HiQ’s fast fit centre in Kettering is encouraging motorists in the area to visit the flagship store during three days of free festivities to celebrate its £75,000 makeover. The centre on Telford Way Industrial Estate reports that it “is enjoying a huge upturn in fortunes” since it was radically rebranded and is now officially commemorating its new decor with a series of safety-orientated charity events on Thursday, 9 September to Saturday, 11 September. Fast fit technicians will provide free vehicle and wheel alignment health checks for every visitor, while the company will run a free prize draw to win a plasma TV, a Sat Nav system, a mountain bike and a barbecue. HiQ’s official charity Breast Cancer Care will also be represented throughout the days with its “pink ladies” as HiQ attempts to educate more families and women about the good work that the charity carries out.
When Bridgestone packs up its gear following the Abu Dhabi Grand Prix in November, a 14-year chapter in the company’s history will come to a close. Accompanying Bridgestone during its entire Formula One journey has been Bridgestone Motorsport’s director of motorsport tyre development, Hirohide Hamashima. From the very first F1 tyres developed in secret during the late 1980s right through to today, Hamashima has been a central figure in Bridgestone Motorsport’s team. Yet the role he has played in the high profile motorsport championship is one that earlier would have been hard to imagine.
Goodyear has revealed that it will raise its US consumer tyre prices by up to 6 per cent on 1 October due to the persistent rise in raw materials costs. The increase will, according to US sources, affect all of the company’s brands, including Goodyear, Dunlop and Kelly.
The British Tyre Manufacturers Association (BTMA) has elected David Smith as its new chairman with immediate effect. Smith has been the managing director of Continental Tyres since 2007, and as such has a wealth of tyre industry experience. “I am honoured to have been elected to this key role within the tyre industry,” he comments.
Infinity Tyres (Europe) and the authorised UK distributor of the brand’s PCR tyres Bond International have announced the launch of their new initiative to support UK customers. The Infinity Club began on 1 September and is aimed at rewarding top independent tyre dealers for their purchases of Infinity PCR tyres through Bond International. The Infinity Club – available by invitation only – will offer a monthly volume-based rebate scheme to participating dealers. The rebate will be based on net invoice values and will be paid directly to the dealer.
The Goodyear Tire & Rubber Company has called all of its outstanding senior notes due in 2011 and 2015 for redemption on 29 September, 2010. Goodyear intends to use net proceeds from its recent $1 billion issuance of 8.25 per cent senior notes due 2020 to fund these redemptions. The notes called for redemption are $388 million in principal amount of 7.857 per cent senior notes due on 15 August, 2011, $325 million in principal amount of 8.625 per cent senior notes due on 1 December, 2011, and $260 million in principal amount of 9 per cent senior notes due on 1 July, 2015.
Analysts from investment bank Morgan Stanley have recommend investors buy shares in “Michelin against Goodyear” following its Alphawise surveys in Europe and the US. Based on current market performance and taking catalysts into the equation, the analysts estimate that “Michelin are 20 per cent above consensus, while for Goodyear we are 15 per cent below the street.” As a result Cooper Tire shares are described as the firm’s preferred stock in North America, while in Europe, the bankers recommended Michelin and Pirelli over Continental and Nokian.
Elemica, the B2B supply chain network, is celebrating 10 years in business and the first anniversary of its merger with RubberNetwork. Founded by 22 top chemical companies in 2000 as an e-commerce hub linking buyers and sellers, Elemica has grown into a global company offering supply chain solutions for customer management, supplier management, logistics management and sourcing management. According to the company, these services and solutions “drive bottom line results through improved operational efficiency between trading partners with reduced costs and enhanced supply chain reliability.” Today, Elemica’s client base represents greater than $480 billion in chemical and tyre and rubber industry revenue.
Following the recession of 2008 and 2009, in the most recent part of this year there has reportedly been “an about turn” in market truck tyre demand. However, the commercial vehicle sector’s recovery is said to be much slower in the UK than in Europe. Tyres & Accessories spoke to Michelin UK’s head of marketing – Truck, Earthmover, Martin Covington, who explained how the market’s recent history has been “a very competitive 18 months.”
While Michelin reports that truck tyre volumes in Europe shot up 28.7 per cent during the first half of 2010. The UK market recovery appears to be much more gradual, rising just 6 per cent in the same period. (The niche Republic of Ireland market flew up 42 per cent, but this figure is based on the market’s relatively small volumes rapidly recovering from a low base). “OE has obviously been poor, but replacement hasn’t been as much better as it should have been,” Covington commented, pointing out that economic and political instability hit haulier confidence in the first half of the year. Interestingly (happenstance or not) the market’s return to form appears to have coincided with the formation of the current coalition government following the general election.
Bandvulc reports that its Fulda-brand commercial vehicle tyre sales “have exceeded all planned targets.” Sales for the year ending July 2010 were up 25 per cent on predicted forecasts and this reportedly shows that “the market can develop new brands if sold in a proactive, methodical way, rather than purely price driven,” according to the company.
Activity is said to have been high in all tyres sizes with the largest increase in demand seen in the heavy 385/65 R22.5 and the 295/80 R22.5 sectors. “The Fulda range has been well received by Bandvulc’s independent dealers as well as the national chains and we expect to maintain current levels as well as planning for growth of up to 25,000 units in 2011/12,” company representatives told Tyres & Accessories.
Goodyear Tire & Rubber has announced it has priced its offering of an additional US$100 million aggregate principal amount of its 8.25 per cent senior notes due August 15, 2020. The notes will be senior unsecured obligations of the company. The notes will be sold at 100.75 per cent of the principal amount. Goodyear expects the offering to close on August 25, 2010, subject to customary closing conditions.
Goodyear Dunlop Tires Europe intends to use September’s IAA Commercial Vehicle Show in Hanover, Germany as an opportunity to publicly introduce several products that demonstrate its commitment to reducing both operating costs and the environmental effects of transport.
Bridgestone and Nokian are both chuffed with their tyres’ performance in the latest tyre test to be published by a German car magazine, and they’re not ashamed to mention this. The test in question was published in the August 8 edition of Auto Bild and compares the performance of five eco tyres – the Pirelli Cinturato P7, Bridgestone Turanza ER300 Ecopia, Nokian V, Goodyear EfficientGrip and Michelin Energy Saver. The quintet of size 205/55 R16 green products were fitted to a C-Class Mercedes and subjected to a number of wet and dry performance tests, while fuel consumption was measured with a highly precise in-car meter at speeds of 80, 100 and 130 kph. Rolling resistance was also measured in a test facility.
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