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.
(Akron/Tire Review) Goodyear Tire & Rubber Co. launched the new Dunlop SP WinterSport 3D, a winter high performance tyre, during its dealer meeting in Nashville. The SP WinterSport will be available in 22 sizes for the 2006-2007 winter season, Goodyear officials said. The new tyre features what the tyremaker calls “3D sipes,” designed to “enhance grip for performance and ultra-performance sports cars,” the company said.
The Goodyear Tire & Rubber Co. has announced its selection of McCann Erickson as its US advertising agency. The two companies will begin working together immediately.
Titan International, Inc. has reached an agreement with the United Steelworkers in a civil RICO case that began in September 2000. The case was dismissed on Wednesday, 1 February in Springfield, Illinois.
“This disagreement started with the strike on May 1, 1998, and it has been a real fight,” said Maurice M Taylor, Titan chairman and CEO. “There’s no question that both parties were putting a lot of passion and money into this lawsuit. Titan believed it would have been successful, just as we were successful in the shareholder derivative suit brought against Titan by law firm Milberg Weiss, Bershad, Hynes, and LeRach LLP, but during negotiations with Goodyear on their North American farm tyre business, which took over 22 months, it became clear that Titan and the USW have a common goal—American jobs that pay fair wages and benefits. Titan agrees with that, but Titan believes it runs the factories, and if you pay for eight hours of work, you should get eight hours of work,” said Taylor.
Goodyear Tire & Rubber shares fell by as much as 17 per cent yesterday after the company warned raw-material costs will hit its bottom line harder than it originally expected. A number of analysts decreased their stock ratings, with at least one (Deutsche Bank) changing its recommendation to “sell.” Goodyear shares ended the trading day down $3.12 at $15.64 after rising to $19.31 on Monday. Cooper Tire & Rubber Co. also took a blow, loosing $1.30 or 8 per cent, to finish at $14.99.
Marco V Molinari has been appointed executive vice president, HNI Corporation. Mr Molinari will continue as President, HNI International, responsible for international business, including HNI International, HNI Asia and the announced the acquisition of Lamex. Mr Molinari is responsible for driving aggressive profitable growth outside of the United States and Canada and will report to Stan Askren, chairman, president and CEO.
For nearly three decades, the East Anglian company Bickers has been developing the Maxxis brand in a number of niche markets, including motorcycles and scooters, Moto-X, ATV and lawn care. Now, following the establishment of a joint venture between Maxxis and Bickers (Maxxis International UK plc), a concerted effort will be made to develop the brand – especially in the passenger car tyre and LCV markets.
Goodyear Tire & Rubber Company says it anticipates record sales of almost $20 billion (£11.27 billion) for 2005, with more than $4.9 billion for the fourth quarter. Despite this market analysts, Deutsche Bank, have downgraded their stock rating for the company to “sell.” In addition to record sales, segment operating income is expected to be up between 20 and 25 per cent from 2004.
The manufacturer says it expects fourth quarter segment operating income “to approximate the $238 million achieved in the prior year period.” After deducting $20 million in corporate and general expenses Deutsche Bank estimates consolidated EBIT will come in at “roughly $218 million, well below their $283 million estimate.”
The February 2006 issue of US magazine Consumers Digest showcases the best tyres on the market, as rated by the magazine’s editors, and products from The Goodyear Tire & Rubber Company take top billing in three of the five rated segments. For the “Passenger Car Tyres, All-Season” category, Goodyear’s Assurance was the Premium selection. The Consumers Digest comparison list shows top-rated tyres in Premium, Midrange and Economy segments.
Goodyear Tire & Rubber Company has completed its acquisition of Ansell Ltd’s interest in their South Pacific Tyres (SPT) joint ventures. Goodyear now owns 100 per cent of SPT, the leading tyre marketer and manufacturer in Australia and New Zealand.
So far the growth of run-flat tyre sales has been almost exclusively through OE business. As the replacement market becomes more and more visible, Tyres & Accessories to took the opportunity to ask Goodyear Dunlop UK MD, Dick Johnson; Michelin’s Technology Centre Europe director, Bernard Delmas; and Bridgestone UK marketing manager, Andy Lane, for a deeper insight in the development of the run-flat aftermarket.
Last month Bridgestone announced that it had shipped its three-millionth run-flat tyre in total. At the same time the UK wing of the multi-national manufacturer said its run-flat sales boomed in 2005. While 3 million run-flats may sound like a lot of tyres, speaking to other manufacturers puts the Japanese company’s figures into context. Bernard Delmas, director of Michelin’s Technology Centre Europe, described the segment as a “fledgling market” which equated to 1 per cent of 300 million, in terms of the total European OE market.
In the last few years Goodyear has launched a range of new products in the earthmover market such as the RT3B for wheel loaders; the TL3A+ for wheel loaders and articulated dump trucks; and the RT-5C – the 250 level traction wheel loader tyre that has also proven highly successful in grader applications in size 25.5R25. Other products include the RT4A for rigid dump trucks.
Matador (UK) Ltd has become the headline sponsor of the 2006 MSA British Off Road Championship. Company representatives are obviously pleased to have taken on the position, and commented: “2006 looks like it may be a defining year for off-road motorsport in the UK.”
“Ultimately we want people to enjoy themselves watching and participating in 4×4 competition,” explained Matador Tyre Sport UK MD, Graham Middleton, adding: “At the same time it brings a different angle to Matador’s sporting portfolio. We competed in the ‘clubman’ section of the championship last year, and were impressed with the way that the organisers listened to the competitors.”
This is a short extract. Tyrepress and Tyres & Accessories subscribers can log in below to read the full article.
If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.
Becoming a member has benefits such as:
In Australia, Kmart Tyre and Auto Service is to acquire 90 Shell Autoserv and Auto Care branches for an undisclosed fee. Under the agreement, effective from 20 February, Shell Autoserv and Auto Care sites will be progressively rebranded as Kmart Tyre and Auto Service.
Kmart’s owner, Coles Myer, said all current Shell Auto Care and Shell Autoserv employees will be offered a role with KMart Tyre and Auto Service. Kmart Tyre and Auto Service managing director John Sink said the deal makes his company the largest car servicing business in Australia with over 280 stores, many located next to Coles Express Service Stations.
Logistics specialist Christian Salvesen has agreed warehousing and distribution deals with two of the UK’s leading tyre companies.
Firstly, Goodyear Dunlop Tyres UK has announced that it is to extend its logistics partnership with the company. This will mean that Christian Salvesen will take over the operation of the National Distribution Centre (NDC) at TyreFort in Erdington, Birmingham, in addition to its current responsibilities for the transportation and distribution of tyres, which began in 2002.
(Akron/Tire Review) The sale of Titan International Inc. to One Equity Partners, a private equity group of JP Morgan Chase & Co, should be completed by the end of February, according to Maurice Taylor Jr, Titan’s chairman and CEO. Taylor said the special board committee of Titan directors formed to pursue talks with One Equity will vote on the deal by the middle of February. Shareholders will vote at the end of the month, he said.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.
