Goodyear to Invest $30 million in Fayetteville
Goodyear Tire & Rubber Co has confirmed that it is planning to plough $30 million into its Kelly-Springfield plant in Fayetteville, North Carolina. .
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 and Dunlop to Launch New Products at IAA Show
Product NewsThe 60th International Motor Show (IAA) Commercial Vehicle Show will provide the platform for the launch of a number of new Goodyear and Dunlop products and services. As well as exhibiting a range of tyres for trucks, buses and coaches the Goodyear Dunlop stand will highlight the latest news and services from the Europe-wide TruckForce customer support network.
Goodyear Dunlop says that one of its key goals at the IAA show is to help customers evaluate some of the new tyre-related transport solutions that are available. The company believes its can demonstrate how its products and services can reduce costs. The company recently came up with some new concepts. These include maximising the cargo volume in mega-trailers, reducing the risk of overloading axles and increasing trailer brake life by up to 30 per cent. These configurations are said to produce longer tyre life and better fuel consumption in comparison with previous configurations.
On the ‘software’ side, new systems such as FleetOnlineSolutions and RoadsideAssistanceSolutions were both introduced less than a year ago. These internet-based ‘solutions’ will be demonstrated on the stand to show how they can reduce costs and downtime for the fleet operator and to show the latest improvements that have been introduced to the systems.
Key members of Goodyear Dunlop’s European truck tyre marketing and technical management will be present on the stand to meet customers and media on the press and opening days of the show.
The new products and services will be unveiled on Press Day, 22nd September and include tyres which are unique to the industry. The IAA Commercial Vehicle Show runs from the 23 to 29 September in Hanover.
Goodyear Announces Rationalisation Plans
Product NewsGoodyear’s Engineered Products and Chemical businesses are to implement rationalisation programmes in order to reduce operational costs, the company has announced.
The Effects of Reduced Demand
Product NewsAs a result of the decline in the US tyre market, Deutsche Bank analysts are revising their estimates for tyre manufacturers Goodyear and Cooper. The analysts say they are adjusting their share price estimates for Cooper from $1.85 down to $1.70. Goodyear’s estimates are to be adjusted by a similar amount, from 50 down to 40 cents. According to the analysts, the 1.6 per cent slip in the market during August is a consequence of high fuel prices, which in turn reduces the amount of disposable income available to consumers.
Polish Market to Grow 3 per cent
Product NewsThe Polish tyre market is to grow at a rate of three per cent during 2004, according to Goodyear estimates. The company, which has invested in domestic tyre producer, Dębica, believes Polish consumers will buy a total of 7.1 million new tyres in 2004.
Goodyear Dunlop Managers to Job Swap
Product NewsGoodyear Dunlop Europe has appointed Dick Johnson as general manager of Goodyear Dunlop UK, the company has announced.
Good News for Goodyear Shares
Product NewsThere was good news for Goodyear Tire & Rubber on Wednesday, as its shares closed at a 52-week high thanks to analysts recommending its stock.
The shares closed at $11.42, and were up 44 cents which meant the company’s stock has not closed below its 10-week moving average since late May.
Last month the manufacturer ended a six-quarter losing streak by posting a second quarter profit of $25.1 million, which equated to 14 cents a share, this figure compared with a loss of $53 million, or 30 cents per share, recorded in 2003.
TIA to Give Away Thousands at SEMA
Product NewsThe Tire Industry Association (TIA) has announced that two special events are taking place during the SEMA Show in Las Vegas, Nevada, with each event featuring a cash giveaway of thousands of dollars.
Goodyear Dunlop Make New Fleet Appointment
Product NewsGoodyear Dunlop have appointed Tony McHugh as national key account manager, in a move designed to strengthen the company’s fleet operations.
Free Tyre Choice In Formula 1?
Product NewsIn a strange request, Pierre Dupasquier, head of Michelin Motorsport, suggested that Formula 1 teams should not only be able to use any rubber compound, but also be free to choose which manufacturer’s products they will use. The proposal would give teams the freedom to decide from race to race whether to use Michelin or Bridgestone tyres.
New BMW to fit Goodyear Runflats
Product NewsThe new BMW 1-series, is the latest vehicle to be fitted with Goodyear runflats and is due to be launched across Europe in mid-September.
According to media reports the 1 series is the first volume car to be fitted with runflat tyres as standard. The BMW series will have 16 inch Goodyear Eagle NCT5 EMTs as standard, which will be supported by a tyre pressure warning system. BMW claim the tyres will enable the car to be driven safely for up to 145 kilometres (90 miles) at up to 80 kilometres (50 miles) per hour, with all the tyres punctured.
Goodyear Dunlop Europe OE director, Jean-Jacques Wiroth, said: “This is a significant move by BMW as they expect the new model to do well – it’s also their first entry into the compact hatchback market. Apart from the OE contract our replacement business will benefit through the high volume anticipated”.
The company already supplies runflat tyres to BMW for the 5 series, the 6 series, the Z4 and the Mini.
Three More Years for the Turnaround
Product NewsIn a recent interview Goodyear Tire & Rubber Co’s CEO Robert Keegan has told Germany’s daily Frankfurter Allgemeine Zeitung that the company needs three years to get its US tyre business back on track to healthier profits.
Mr Keegan is reported to have said that Goodyear’s European business was making better progress. The company hasn’t posted a consolidated net profit since 2000, however it managed to record profits in the second quarter from North America and other regions.
Michelin Reach Agreement with USWA
Product NewsThe labour dispute between the United Steel Workers of America (USWA) and Michelin appears to have come to an end as the two sides have reached a tentative agreement.
Bringing in the Harvest
Product NewsGoodyear have announced that, with the fruit and grape harvesting season not far away, it is launching its Optitrac DT812 DT818 in an expanded range of sizes.
Goodyear to supply ‘Runflats’ for Maserati Quattroporte
Product NewsMaserati have selected Goodyear as an exclusive option on its the 400 brake horse power Quattroporte. Goodyear will supply Eagle F1 GS-D3 Extended Mobility Technology (EMT) tyres.
