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 Dunlop Europe has been selected to supply replacement tyres for Volvo’s European truck tyre business through its chain of close to 1,000 truck dealers and workshops. According to Henry Johnson, managing director of Goodyear Dunlop’s European truck tyre business, Volvo customers will have the option to benefit from the one-stop shopping approach.
Following reports of Goodyear’s first quarterly profit in almost two years, JPMorgan Chase & Co are deciding whether to increase a loan to the company and to trim the interest rate it will pay.
The leadership of American automotive manufacturing workers, United Steelworkers of America (USWA) have given Michelin North America Incorporated until Wednesday to negotiate a new labour contract.
In the second quarter of 2004 Goodyear achieved a record levels of sales, the company has reported. With all seven of its businesses profitable, the company also reported net income of $25.1 million (£16.5 million) for the second quarter of 2004, a record figure.
Goodyear may have been in profit for the second quarter and may have posted record sales but not everyone is impressed. Deutsche Bank analysts have pointed out a number of flaws in the company’s optimism.
Hi-Q Tyre Services has appointed Naithan Keeping to the role of fleet director. Mr Keeping, 31, joins the Goodyear Dunlop retail network, from ATS, where he was fleet sales director.
Goodyear Tire & Rubber has announced that it will raise prices on its consumer, commercial, farm and OTR tyres, effective the 1 September.
Consumer tyre prices will increase by up to five per cent and commercial tyre prices by two per cent. Farm tyre prices are set to go up by five per cent and OTR tyre prices will rise between three and five per cent.
According to a Goodyear spokesman all brands will be affected by the price increase. Company officials are citing escalating raw material costs, higher energy rates and rising transportation costs as the reasons behind the price rises.
Goodyear is to receive a $2.25 million (£1.2 million) grant under the Defense Appropriations bill, passed last week by US Congress. The company’s Akron Technical Center will benefit from the majority of the financial injection, which will fund research and development of aircraft tyres to be used on America’s new Navy and Air Force joint strike fighter jets.
Goodyear Tire & Rubber Company has announced that it expects to report second quarter sales of around $4.5 billion. The figure represents a $0.7 million dollar improvement on the previous year, which the company believes is the result of higher volume output, improved pricing and better product mix.
Goodyear Dunlop Tires Europe has completed its acquisition of the Dackia tyre retail group, in Sweden.
Goodyear Tire & Rubber Company has announced that it will invest $50 million (£27 million) in plans to expand its facility in Cali, Colombia. The plans will see the plant produce radial medium truck tyres in addition to its existing output. This signifies Goodyear’s commitment to the growth of Colombian exports in certain Latin American countries, according to Eduardo Fortunato, president of Goodyear’s Latin America region.
Following its offering of $350 million aggregate principal amount of 4 per cent convertible senior notes, Goodyear Tire & Rubber Company has announced that is has closed the sale.
Goodyear Dunlop Tyres UK Limited has announced that it is taking further steps to combat illegal importers and to protect customers; by ensuring the right tyres are fitted to vehicles in the UK and Europe.
Goodyear Tire & Rubber Company’s shareholders have re-elected Robert J Keegan, Rodney O’Neal and Shirley D Peterson to serve as company directors for a further three years. John G Breen was elected to serve for the final year of a three-year term on the board.
A member of Goodyear Dunlop Germany’s executive board confirmed to Tyres & Accessories that Holert-Konz’s restructuring plans are underway. The move will see the company move its outlets into a franchise system under the Premio banner. Consequently around 15 of Holert-Konz’s 96 outlets have already been shut down. So far interested parties are negotiating for around 30 franchises. The remaining 50 outlets are still owned by Goodyear Dunlop, but the company also plans to franchise these.
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