Goodyear Archives - Page 133 of 248 - 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.

Tag Archive for: Goodyear

The New Face(book) of Advertising

The mid-June US market launch of Michelin’s Energy Saver A/S passenger car tyre range will not only be supported by traditional media campaigns – in order to take a more aggressive digital and social media communications approach, the manufacturer is launching its first Facebook application: Michelin Life Balance.

“Michelin Life Balance allows us to digitally interact with consumers by providing them an opportunity to express who they are,” said Jennifer Smith, digital communications manager at Michelin North America.

10th June 2009/by Tyrepress Editors

Goodyear Gets Buyout Deal in Akron

USW workers at Goodyear Tire & Rubber Co.’s race tyre plant in Akron have accepted a buyout scheme. The company has offered buyouts to 120 workers at the plant, about 30 per cent of total employment there, citing reduced demand due to cutbacks made in various race series. USW Local 2, which covers some 440 employees in Akron, passed the offer “overwhelmingly,” according to reports. The deal also preserves some 250 jobs through 2012 at Goodyear’s tech center in the city.

However, the agreement allows Goodyear to move rubber mixing from Akron to its Dunlop plant in Buffalo within the next two years. The one-time buyout offer covers the first 120 employees who elect to take it, and gives $2,000 per year of service up to a maximum of $40,000. If fewer than 120 employees take the offer, Goodyear will have the right to layoff workers to reach that level. (Tire Review/Akron)

10th June 2009/by Tyrepress Editors

Goodyear, USW Begin Negotiations Over New Contract

Almost three years have passed since the agreement between Goodyear and the United Steelworkers of America on a new master contract ended several months of strike action, and on July 18 the contract is set to expire. Negotiations between the two parties on a new contract began on June 8 – but whether or not mutually agreeable terms can be reached without revisiting the events of 2006 remains to be seen.

The existing three-year contract covers some 10,300 workers as seven Goodyear factories in the US, and while the USW states its goal in negotiations will be to improve pay and benefits, it acknowledges that job security will overshadow other issues.

9th June 2009/by Tyrepress Editors

Goodyear Promoting Tyre Care During US Tire Safety Week

Goodyear is supporting National Tire Safety Week in the US – held between June 7 and 13, by highlighting the importance of correct tyre care. In promoting its efforts during the week, the American tyre major points out that tyres are second only to brakes in terms of importance as a safety feature on a vehicle – and only a third of motorists correctly check tyre inflation pressure.

Improper air pressure in tyres can lead to a multitude of problems, Goodyear notes. These range from uneven and accelerated tyre wear through to structural damage in a tyre. Furthermore, an under-inflated tyre also has the potential to affect tyre performance, including making a vehicle less fuel-efficient.

8th June 2009/by Tyrepress Editors

Kramer Named Goodyear COO

Goodyear Tire & Rubber’s Board of Directors has elected Richard J. Kramer chief operating officer of the company. In this new role, which takes effect immediately, Kramer will report to company chairman and CEO Robert J. Keegan. Kramer will also continue in his current position as president of the company’s North American Tire business until his successor is named.

“Rich’s appointment as chief operating officer reflects our game plan of having a laser focus on operations globally during these extraordinary times,” Keegan said. “It also reflects the confidence that the Board and I have in Rich’s overall business leadership capability.

4th June 2009/by Tyrepress Editors

USW Testifies Against Chinese Imports at ITC

The United Steelworkers (USW) reports that its president, Leo W. Gerard, asked the U.S. International Trade Commission (ITC) on June 2 to give the U.S. tyre industry a “fighting chance” against consumer tyres imported from China. According to the USW, Gerard told the ITC that the union has used every tool at its disposal to save the US consumer tyre industry from total collapse, including contract concessions, wage increase deferrals and improved productivity.

“But all of these efforts aren’t worth a dime if the market is being pulled out right from under us,” Gerard said. “With a short period of relief, we can start to build a sustainable foundation for the future of the American tyre industry and its workers.”

3rd June 2009/by Tyrepress Editors

Goodyear Finally Sells Lake Property

After two years on the market, Goodyear Tire & Rubber Co. was finally able to sell its Wingfoot Lake property near Akron. The 540-acre lake and 150-acre park area was acquired by the Ohio Department of Natural Resources’ Division of Wildlife for a reported $3.2 million.

The sale does not include the tyre maker’s blimp port and hangar there. The state plans to open the park to the public by mid-2010. In 2007, Goodyear announced plans to sell the property as part of its financial plans. Once a company-only facility, the complex includes picnic shelters, playgrounds, ball fields and courts, a miniature golf course and driving range, boat docks, and a snack bar. (Tire Review/Akron)

3rd June 2009/by Tyrepress Editors

GM on the Hook to Tyre Companies

With General Motors now in bankruptcy, details are starting to emerge about what the troubled automaker owes some of its key suppliers. According to reports, GM still owes Goodyear some $7 million, Continental AG some $15.5 million, and another $4 million to Bridgestone Americas. GM plans to pay all of its key suppliers in full, say reports. (Tire Review/Akron)

2nd June 2009/by Tyrepress Editors

Goodyear Headquarters Moving Forward

Moving forward on plans for its new world headquarters, Goodyear has sold some of its Akron properties to Industrial Realty Group (IRG).

In turn, Goodyear signed a multi-year lease agreement with IRG and, as part of that agreement, will remain in its existing buildings until its new headquarters located adjacent to the company’s Akron Technical Center is completed. In connection with the sales, Goodyear will record a non-cash, after-tax charge of between $40 million and $45 million in the second quarter of 2009. (Tire Review/Akron)

1st June 2009/by Tyrepress Editors

GM, Goodyear Shares on Rise

Following significant developments today for both companies, General Motors and Goodyear have both seen shares jump in value in US trading. Bloomberg says that GM moved up 19 per cent to 89 cents until trading was halted. Goodyear meanwhile rose 8.6 per cent, reaching $12.44. The company has announced following its sale of property in Akron, Ohio to Industrial Realty that it will “record a non-cash, after-tax charge of as much as $45 million in the second quarter in connection with the property sales.”

1st June 2009/by Tyrepress Editors

Property Sales a “First Step” Towards New Goodyear HQ

A number of properties belonging to Goodyear Tire & Rubber in its hometown of Akron Ohio have been sold to Industrial Realty Group (IRG). These sales, comments Goodyear, represent a first step toward finalising plans for developing a new headquarters in Akron. The tyre major has signed a multi-year lease agreement with IRG and, as part of this agreement, will remain in its existing buildings until its new headquarters located adjacent to the company’s Akron Technical Center is completed.

1st June 2009/by Tyrepress Editors

HiQ On-Track for 175 Branches in 2009

Tyre manufacturers, especially those with large OE commitments, have really felt the pain of recession with most announcing double-digit falls in year-on-year sales for the first quarter of this year. However, the continued development of the revamped HiQ chain exemplifies how the downturn hasn’t been all bad for the wider tyre industry. In fact, in the retail business there are even examples of the ‘down’ market actually helping companies grow. Tyres & Accessories recently met with HiQ retail director Juergen Titz and found out how the network’s expansion plans are progressing.

There are currently 140 HiQ centres across England and Wales, however the plan according to Juergen Titz is to establish 175 by the end of 2009 – and another 100 by 2012. When you consider that HiQ franchised off the 106 formerly Goodyear Dunlop owned sites only last year, clear progress is being made towards the HiQ rapid expansion goals. Despite the fact that Goodyear Dunlop’s decision to run the network as a hard franchise operation represents a significant change in direction for the company, there is real sense of optimism (amongst both managers and franchisees) about the company’s future.

29th May 2009/by Tyrepress Editors

Goodyear Dunlop Partners Bandvulc Group for Logistic Service

Goodyear Dunlop is to distribute new Goodyear Max Technology and Dunlop tyres through Bandvulc Group in a move designed to increase efficient and improve delivery service to UK truck tyre dealers. According to the tyre manufacturer, the agreement means that Bandvulc Group, which specializes in truck tyre service solutions, will now be able to supply Goodyear and Dunlop truck tyres to independent dealers across the UK.

The partnership is intended to complement Goodyear Dunlop’s existing direct delivery logistics system, which is designed to supply large tyre dealers and the growing network of TruckForce partners across the UK by shipping volume orders of tyres directly from plants (such as Wittlich in Germany, Luxembourg and Wolverhampton) to customers.

29th May 2009/by Tyrepress Editors

Michelin India Project a Step Nearer to Realisation

Objections to Michelin’s Rs 40 billion (£530 million) greenfield factory project in Tamil Nadu, India have been overruled by the Madras High Court. On May 26 the court ruled against an environmentally based petition instigated by a local villagers’ association, stating that the need for employment and investment must take precedence.

27th May 2009/by Tyrepress Editors

Tyre Factory Closures ‘Should Support Price Discipline’

In the wake of Goodyear announced closure of its Amiens, France plant. Financial analysts have highlighted the ‘positive’ effect this will have on the tyre manufacturer’s “price discipline.” Amien has an annual capacity of approximately 6 million units, and its closure forms part of a Goodyear’s 15-25 million unit capacity reduction plan announced. When you factor in that the Amiens plant has between 800 and 1200 employees, the closure could result in cost savings of around $50 million, according to Deutsche Bank, with $700 million of gross cost savings expected this year.

Goodyear’s announcement follows a number of other capacity closures across Europe including: Continental closing its 8 million unit capacity PCR plant in Clairoix France; Pirelli closing its 4 million unit Maresa Spain factory, Michelin reducing its capacity in France, Italy and Spain by 14 million units. In the US capacity cuts have been even more stark with Cooper reducing capacity by 10 million units in Albany, GA; Michelin cutting 4 million units in Opelika; and Bridgestone eliminating 9 million units in Nashville. This all equates to around 40 million units of capacity reduction in the NAFTA region. And as a result of the supply demand balance, this is likely to “support price discipline” say the analysts.

27th May 2009/by Tyrepress Editors