Goodyear Archives - Page 162 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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Goodyear Workers Accuse USW of Unfair Labour Practices

Former United Steelworkers union members who crossed picket lines during last year’s Goodyear strike in the US have filed a complaint against the union with the National Labor Relations Board. The ex-union members claim that the union’s Local 2 fined each of the workers US$620 while also continuing to collect union dues from their pay despite the termination of their union membership.

The tyre makers state their return to work was necessary for them to continue supporting their families, but according to the complaint, the Local 2 then held an internal trial committee and imposed the fine on each employee who had returned. Since that time, the complainants add, the union “has been interfering with, restraining and coercing employees.”

8th June 2007/by Tyrepress Editors

Christian Salvesen’s Tyre Plan Proves ‘Difficult’

Profits at Christian Salvesen fell 19 per cent, at least partly due to the higher than expected start-up costs encountered in its distribution deal with Goodyear Dunlop and Continental Tyre Group in the UK. The firm posted underlying pre-tax profits of £12.5 million for the year to March 31 and extended the UK transport division’s operating losses to £4.6 million for the year.

“Progress during the year was slower than hoped, due in part to a difficult start-up for our national tyre distribution partnership with Goodyear Dunlop. The unplanned start-up costs were a significant factor in the increased losses for the year. As part of the turnaround plan for our UK network business, we are investing in new systems to achieve rapid improvement in operational efficiency. For the longer term, we are investigating options that will require more fundamental infrastructure changes,” said the company reporting its full-year results.

7th June 2007/by Tyrepress Editors

Goodyear to Supply Tyres for Updated Boeing 737 Line-Up

A six-year contract has been signed between the Goodyear Tire & Rubber Company and Boeing Commercial Airplanes for the OE supply of aviation tyres for the Boeing Next-Generation 737 airliner range. The deal announced by the two companies on May 31 will see Goodyear supply flight leader and flight radial tyres for the Boeing 737 nose gear and flight leader tyres for the main gear.

Pierre Jambon, general manager for Goodyear’s global aviation tyre business, said, “This contract is significant, due to the importance of Boeing 737 aircraft in the world’s airline fleets. Because of Goodyear’s global footprint, this supply arrangement also allows us to expand our position with replacement tyres and tyre services.” He further added “our tyres must withstand the stress of repeated takeoffs and landings and the substantial speeds and loads of large aircraft. Thus, aircraft tyres are a showcase for Goodyear’s substantial technological capabilities.”

Goodyear aviation tyres are manufactured in the US, Thailand and Brazil. Currently the US tyremaker is the world’s largest supplier of tyres for commercial, military and general aviation aircraft.

1st June 2007/by Tyrepress Editors

US Court Backs Goodyear in Pay Discrimination Case

A ruling handed down by the US Supreme Court has set a precedent limiting employees’ ability to sue an employer for pay discrimination in cases relating to decisions made years earlier. The court decided in a 5-4 ruling on a case centred upon the application of deadlines for complaining about discriminatory pay decisions that it would become too difficult for employers to mount a defence against any claims “arising from employment decisions that are long past.”

The plaintiff, Lilly Ledbetter, instigated legal action against Goodyear Tire & Rubber based upon her claims that after 19 years of employment at the company’s facility in Gadsden, Alabama she was earning US$6,000 a year less than the lowest-paid male employee performing the same work. Ms Ledbetter argued that her gender was the primary causal factor for this pay inequality, which she claimed been ongoing for a number of years. A jury initially made a decision in Ledbetter’s favour and awarded her $3.8 million, later reduced to $360,000.

31st May 2007/by Tyrepress Editors

EU Commission Approves Bridgestone’s Bandag Acquisition

The European Commission has cleared Bridgestone Americas Holding Inc’s proposed acquisition of Bandag. After examining the operation the Commission concluded that the transaction “would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.” Making its decision the commission concluded that the new combined firm would continue to face strong, effective competition from companies such as Michelin, Goodyear and Kraiburg.

According to the report, the main horizontal overlap occurs between the parties with regard to the re-treading business, particularly the supply of re-treading material to independent businesses active in the re-treading of tyres. However, the Commission’s examination of the proposed merger showed that the horizontal overlaps between the activities of Bridgestone and Bandag are limited and that the transaction would not lead to major structural changes on the re-treading market.

30th May 2007/by Tyrepress Editors

Vogue Adds 20-Inch to Popular Line

(Akron/Tire Review) To meet customer and dealer demand, Vogue Tyre & Rubber Co. has introduced a 20-inch version of its popular Custom Built Radial VIII. The H-rated 245/40R20 is being produced by Goodyear, and will be available to dealers in late July, Vogue officials said.

The Custom Built Radial VIII features Vogue’s trademark white sidewall and gold stripe accent. The new 20-inch size is M&S-rated for all-season performance, Vogue said, and features the company’s “gold puncture control pad.”

The tire carries a UTQG rating of 500AA and is an extra load size, making ideal for full size domestic sedans and plus-size fitments, Vogue said. Vogue also backs the tire with its warranty package.

Vogue officials said the company also launched a new Web site to support the tire – www.rollinonvogues.com.

29th May 2007/by Tyrepress Editors

Revamped Hi-Q Outlets to Be Unveiled Soon

June sees Neil Burrows take on the responsibilities of retail director at Goodyear Dunlop UK. So, as a way of welcoming him into his new position, Tyres & Accessories interviewed the company’s former marketing director and asked what the future holds for the recently re-vamped Hi-Q retail franchise.

At the end of 2005, Goodyear Dunlop UK announced plans to separate its consumer and commercial tyre retail businesses into two distinct Hi-Q and TruckForce networks. The move was designed to solve the perceived problems that had been encountered by the two sides of the business’ lack of synergy. This radical shake-up proved to have a dramatic effect on the network, with company’s aim being to improve its focus on both sides of the business. On the passenger side this meant introducing a strong “hard-franchising” policy, designed to keep standards and brand image consistent.

24th May 2007/by Tyrepress Editors

Goodyear Set to Spend $125 Million at Plant

(Akron/Tire Review) News reports out of Alabama say that Goodyear plans to pour $125 million into upgrades and new equipment at its nearly 80-year-old Gadsden, Alabama, tyre plant. Reportedly the investment will come over three years. Plant manager Jim Davis told the Gadsden Times that, “The capital that we’re investing here will bring process capability and production capability that just do not reside here at this times. The investments in our plant will definitely help improve our plant’s viability and competitiveness.”

Goodyear is also getting help from the local government, said reports, with the Gadsden City Council approving $125 million in tax abatements. The Gadsden plant was one of the Goodyear plants that were given “protected status” in the recently signed master contract with the United Steelworkers, meaning it will likely remain operational through 2010.

23rd May 2007/by Tyrepress Editors

Goodyear Common Stock Offering Closes

Goodyear has announced the closing of its public offering of 26,136,363 common stock shares, including the fully exercised over-allotment option, at $33.00 per share. Taking into account the exercise of the over-allotment option the offering’s net proceeds, after subtracting underwriting discounts and commissions, totalled approximately US$834 million.

According to a company statement Goodyear intends to use the net proceeds from the offering to redeem approximately $175 million in principal amount of its outstanding 8.625 per cent senior notes due in 2011 and approximately $140 million in principal amount of its outstanding 9.00 per cent senior notes due in 2015. The company expects to use the remaining net proceeds for what it calls ‘general corporate purposes’, which may include, among other things, investments to stimulate growth within the company’s core tyre business and the repayment of additional debt.

Deutsche Bank Securities, Citi and Goldman, Sachs & Co. served as the offering’s joint book-running managers.

23rd May 2007/by Tyrepress Editors

Goodyear Signs Two OTR Supply Contracts

Goodyear OTR has renegotiated major contracts with Southampton Containers (part of the Dubai Ports Group) and Tilbury Container Services – to supply Goodyear EV-4A and EV-4S for Straddle Carriers. Straddle Carriers are the machines that load containers from the Port onto road going trucks. The contracts mean that Goodyear supplies over 75 per cent of the tyre requirements to Southampton Containers and also provide tyre performance data on 100 Straddle Carriers used at the Port. Tilbury Containers Services have over 40 machines on their site and all run on Goodyear’s range of EV tyres.

21st May 2007/by Tyrepress Editors

Advanced ID to Purchase Pneu-Logic

A company press statement released on May 15 indicates that US supplier of UHF tag reading equipment Advanced ID Corporation is preparing to purchase Pneu-Logic Ltd, the Derbyshire-based provider of tyre industry technology. According to the statement, the chairman of Advance ID, Seymour Kazimirski, and George Yeomans, chairman of Pneu-Logic, signed a letter of intent for Pneu-Logic’s acquisition following the decision previously gaining the board of directors’ unanimous approval.

“This was an easy decision for both companies,” commented Dan Finch, president and CEO of Advanced ID. “Pneu Logic has superior technology for tyre management and Advanced ID is the leader in tyre identification. By combining our technologies, we are able to offer a complete system solution for tyre and fleet management. Pneu Logic has been in business for three years with a 100 per cent focus on tyre inspection. Their client base includes major tyre manufacturers and fleet operators and the success specifically in the European market is a testament for the value of their product line. Pneu-Logic’s product line has patent protection and design IP. We have already started joint marketing efforts, which have led to new business opportunities. You could not ask for better synergy between two companies. There is no question that our combined company will be the undisputed leader in tyre management focused on tyre maintenance and tyre identification.”

21st May 2007/by Tyrepress Editors

Goodyear Offering to Go at $33 Per Share

(Akron/Tire Review) Goodyear has confirmed that it has set $33 as the per share price for its public offering of 22.7 million shares of common stock. The offering will close on May 22, Goodyear said. In addition, Goodyear said it has granted the underwriters a 30-day option to purchase up to 3,409,091 additional shares of common stock to cover any over-allotments. The tyremaker plans to use the proceeds – expected to be $725 million – to retire existing bank loans and for “general corporate purposes.”

18th May 2007/by Tyrepress Editors

Goodyear Dunlop Named as 2nd Pan-Government Supplier

Goodyear Dunlop, along with its HiQ and Truck Force networks, have been appointed as the second of the two suppliers of tyres and associated services for a three-year framework agreement for a pan-government tyre sourcing initiative led by the NHS Purchasing and Supply Agency (NHS PASA), in conjunction with the Office of Government Commerce (OGC). A government spokesman told Tyres & Accessories that the framework is divided equally between the two suppliers.

18th May 2007/by Tyrepress Editors

World Trade Association Completes 6th OTR Auditing Trip to China

World Trade Association (WTA), a leading independent US tyre wholesaler, recently completed its sixth auditing trip to China to ensure the quality of production for its Xtreme line of OTR tyres. WTA’s auditing team includes former Goodyear engineers with very specific areas of expertise; a compounding specialist, design specialist and plant manager, as well as Jim DeChene, Vice President of WTA. The team recently spent two weeks investigating Chinese manufacturing plants to provide current and future production of both bias and radial OTR tyres.

“Our frequent and extensive auditing is proof of our commitment to the highest level of quality for all of our OTR tire brands,” said DeChene. “WTA’s line of OTR tyres, Xtreme Force and Xtreme Load, are the perfect solution for companies looking for a steady supply of quality OTR tires in a market where supply is limited.”

WTA’s audit team spent 12 hours each day for two weeks investigating seven different plants in China. The team checked every aspect of production, including the plants’ overall conditions, raw materials, formulations, production methods and the experience level of its technicians.

16th May 2007/by Tyrepress Editors

Goodyear Poland’s Premio Chain Grows

Goodyear Poland’s recently formed Premio retail chain has opened some 45 new outlets in the last eight month. According to the Warsaw Business Journal, the aim is to increase this to 80 by the end of the year. The news follows reports in February that Goodyear had committed to investing over US$100 million to upgrade the UHP production capabilities of the plant over the next 3-4 years. Debica, Europe’s biggest tyre plant according to some, was acquired by Goodyear in 1996 as the company sought to tap the fast-growing Polish market and develop a production base for exports. Exports accounted for 75 per cent of Debica sales last year.

16th May 2007/by Tyrepress Editors