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.
Goodyear Tire & Rubber is working to ensure its former employees in the USA receive their company pensions following issues with some payments being made. According to the Akron Beacon Journal, a daily newspaper based in Goodyear’s hometown, pensions were due to be paid last Saturday. The publication quotes Doug Grassian, Goodyear’s director of global external and digital communications, as saying the company is working to fix the problem.
In addition to unveiling a demonstration tyre containing 90% sustainable materials, Goodyear announces it will begin selling tyres with up to 70% sustainable-material content during the course of this year. No details are available at present, but Goodyear invites “consumers interested in purchasing this tyre” to register for updates at a US market-focused site.
The Zhongce Rubber Group (ZC Rubber) has a new sales manager for agricultural tyres in Europe. Mark Turner has taken on the role of European sales director agricultural tyres.
The Goodyear Tire & Rubber Company announced the appointment of Christina Zamarro to the role of Executive Vice President and Chief Financial Officer, reporting to Chairman, Chief Executive Officer and President Richard J. Kramer on 14 December. Zamarro succeeds Darren R. Wells, who will become Executive Vice President and Chief Administrative Officer. Both appointments are effective 1 January 2023.
The management board of Firma Oponiarska Dębica S.A. concluded a loan agreement with Goodyear S.A., Colmar-Berg, Luxembourg on 20 December 2022, under which Debica will grant Goodyear a loan worth 100 million Polish Zloty (£18.333 million; 21.338 million euros; US$27.676 million). The loan repayment date has been set at 19 December 2023.
Goodyear is a long-term headline supporter and tyre supplier of one the most heavyweight forms of motorsport: truck racing. The tyre manufacturer says supplying the tyres on which the series competes demonstrates the performance, durability and sustainability of its truck tyre technology. The 2022 Goodyear FIA European Truck Racing Championship season ended in Jarama, Spain on 2 October, the last of eight rounds, with Norbert Kiss winning his fourth title. Teo Calvet fending off close competition to win the Goodyear FIA ETRC Promoter’s Cup.
The Goodyear Tire & Rubber Company will continue to supply NASCAR racing tyres after the partners announced “a new multi-year agreement” renewing Goodyear’s position as the exclusive tyre for NASCAR’s top three national series on 1 December 2022.
Effective 28 November 2022, The Goodyear Tire & Rubber Company has appointed Norma B. Clayton to its board of directors.
Goodyear is contributing to the pursuit of increased realism in virtual racing via its collaboration with Studio 397, developer of the hyper-realistic rFactor 2 simulation engine. The tyre manufacturer says its partnership has led to a major step forward in replicating race tyre model behaviours in the virtual environment. Such developments allow esports drivers to get closer than ever to the experiences of their real-life counterparts. The engine, which uses thousands of data points to create an immersive and authentic experience, is used in the Le Mans Virtual Series, of which Goodyear is an official partner.
Goodyear has optimised its UHP tyre development by combining different techniques and disciplines through a statistical model, a process it used when working on the Eagle F1 Asymmetric 6. FEDIL has recognised Goodyear’s step forward with a 2022 Innovation Award. The Luxembourg-based multisectoral business federation has honoured the tyre maker in the ‘Process’ category of its awards.
Goodyear Tire & Rubber’s Akron headquarters report that the integration of Cooper Tire & Rubber is on-track, the man charged with overseeing the integration, Ryan Patterson, has left the company.
Goodyear’s latest financial results show that third-quarter 2022 group sales grew 7.6 per cent to $377 million up from $5.311 billion and $4.934 billion respectively the preceding two years. According to the company, the increase was driven by pricing actions that drove revenue per tyre (excluding foreign currency) 16 per cent higher than Q3 2021 level. At the same time, sales were impacted by lower tyre volumes, which declined 3 per cent.
The Goodyear Tire & Rubber Company announces that it is “teaming up” with Israel-based mobility incubator Drive TLV, with Drive facilitating collaboration opportunities between its network of start-ups and Goodyear. Drive will also connect the Goodyear Ventures capital fund with potential investment opportunities in this start-up network.
Passenger car and light truck (PCLT) tyre production trends in Western Europe have been scaling down over the long-term. The move to larger production facilities in the comparatively low-cost labour markets in Eastern Europe, or greater reliance on imports from Asia, has seen a steady stream of plant closures and conversions to speciality, short-run production capacity – on in the case of Cooper Tire’s UK plant, for example, one followed by the other – in the region. A new assessment of the most recent three-year period by tyre industry analyst Astutus Research suggests that the overall picture has been of a decline similar to the period following the 2008 financial crisis, which was itself a catalyst for this trend. Yet digging a little deeper into the figures shows several dynamics at play in European PCLT tyre production, including supply chain disruption and spiralling energy costs. For comprehensive analysis of global tyre market trends, a series of reports by Astutus Research are available to buy now in the Tyrepress Reports Shop – click here for more details.
11 years ago, we published our analysis of the impact of social media and price comparison on the tyre business. Back then in July 2011, Facebook was the number one social network, with 750 million users, of which a third accessed the site via mobile devices. As of July 2022, Facebook has 2.934 billion.
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