Goodyear Archives - Page 220 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 “Disappointed” At Rating Downgrade

Goodyear president and COO Robert Keegan said the company was “disappointed” at the decision of Standard & Poor’s Rating Services to lower its rating of Goodyear’s debt by two degrees, from BB+ to BB-. This is the minimum rating required as a condition for borrowing in some cases. Keegan said that Goodyear was “fundamentally sound” and that the company’s plan to improve operational and financial performance was on track, adding that 2003 “will be a transition year for Goodyear.”

2nd January 2003/by Tyrepress Editors

Ansell-Goodyear CEO Departs

The chief executive of Australian joint venture Ansell-Goodyear has departed suddenly, with no reason given. Rob McEniry is regarded as the main force behind the renaissance of South Pacific Tyres, in which Ansell-Goodyear has a 50 per cent stake, consolidating to two manufacturing sites and taking out A$85 million of annual costs. SPT is moving towards profitability and an Ansell spokesman was confident that McEniry’s departure would not adversely affect the reconstruction programme.

30th December 2002/by Tyrepress Editors

Michelin Tops UK OE J D Power Study

The 2002 J D Power UK original equipment tyre satisfaction study has named Michelin as top performer, for the fifth year running. The survey asks more than 2,500 UK motorists to rank their OE tyres in a number of categories; quality/durability, appearance, traction, ride/handling and effect on fuel economy. Michelin achieved top ratings in all sectors. Continental achieved its highest-ever ranking, coming second, scoring well on traction, ride/handling and fuel economy. Goodyear came third, with an index score at the industry average level.

30th December 2002/by Tyrepress Editors

AXA Financial Cut Holdings In Goodyear

AXA Financial Inc. has cut its shareholding in Goodyear from 20,333,870 common shares at December 31st, 2001 to 10,845,483 common shares on December 10th 2002. This represents a drop from 12.5 per cent to 6.5 per cent.

11th December 2002/by Tyrepress Editors

Goodyear Sells SA Distributor

Intertyre, Goodyear’s South African distribution operation has been taken over by African Genesis, a wholly black-owned investment company. African Genesis has taken 70 per cent of Intertyre leaving Goodyear with the remaining 30 per cent. Currently Goodyear has 40 per cent market share in South Africa and the change in management of Intertyre is planned to increase the company’s performance. Intertyre CEO Lawrence Mavundla, who is also the national president of the African Chamber of Hawkers and Informal Business, said yesterday that the deal presented an opportunity for small business to set up mini distribution enterprises in the tyre industry. He said the partnership would bring about a “robust growth” in Goodyear’s market share, mainly in the passenger vehicle market.”There are some chamber members who trade in tyres. However, the tyres they sell mostly don’t meet the SA Bureau of Standards’ requirements,” he said. Mavundla said while some of these small enterprises import tyres illegally, the situation was worsened by some traders who used glue to retread tyres, making them unsafe.Intertyre hopes to address these problems by making tyres available at reasonable prices to Chamber members. It is also hoped that this will initiate strategic alliances with Goodyear subsidiaries and create a platform for generating other larger projects in South Africa and neighbouring countries.

11th December 2002/by Tyrepress Editors

Kaplan Praises Sava Performance In Interview

In an interview with a Slovenian newspaper Jarro Kaplan, president of Goodyear’s Eastern Europe, Africa and Middle East region, paid tribute to the part played by Sava Tire in Goodyear’s global business activities. Since Goodyear took an 80 per cent stake in Sava in 1998, the Slovenian company has grown in international importance, exporting more than 90 per cent of its production to 70 countries, with plans to enter the US market soon. Kaplan described the Sava workforce as “well educated, highly productive and internationally oriented.” A five-year investment program in Sava was completed a year ahead of schedule and, says Kaplan, Goodyear is seriously considering further production expansion. In addition to the Sava brand, the factory produces Goodyear, Dunlop, Fulda and Debica brand tyres and is Goodyear’s only European factory to produce 17.5 inch truck tyres.

6th December 2002/by Tyrepress Editors

Goodyear Director Resigns

In the USA, Philip A. Laskawy (61) has resigned from Goodyear’s Board of Directors, which he joined in August 2001. Laskawy is set to join the Board of General Motors and, as Goodyear is a major supplier to GM, he felt that remaining on Goodyear’s Board could lead to a potential conflict of interests, hence the resignation.

5th December 2002/by Tyrepress Editors

US Tyre Dealer Accused Of Goodyear Fraud

William L. Davis, a former manager of a Goodyear-owned tyre store in the USA, has been accused of defrauding the manufacturer of $1.5 million. Davis allegedly ordered tyres at a discount then sold them at a profit, with the payments going through a separate company he had set up. If convicted, he faces a prison sentence of up to 20 years and a fine of up to $1 million.

3rd December 2002/by Tyrepress Editors

Goodyear Has Reached A Record Low – Hopes Are Placed In Keegan

It’s been official since October 1st: Robert (‘Bob’) Keegan (55), who left Kodak as President and COO to join Goodyear two years ago, will be replacing Samir (‘Sam’) Gibara (63) as from 1st January 2003, to become the new CEO, just under one year earlier than planned. Gibara will remain Chairman, a position comparable to that of Chairman of the Board in a European public limited company, and he will be chairing the executive committee, which will assist and advise Keegan. From official statements it is clear that this committee does not and will not serve to purely oversee operations, but fully intends to exercise the right of offering advice and of intervening actively in the running of the corporation.

28th November 2002/by Tyrepress Editors

Andreas Niegsch Replaces Marco Molinari At Goodyear Dunlop UK

On December 1st, Andreas Niegsch will be appointed General Manager of Goodyear Dunlop UK, replacing Marco Molinari, who is leaving the company to pursue other interests. Molinari’s current position of Group Managing Director will be eliminated. Niegsch will report to Robin McKnight, MD of Goodyear Dunlop sales countries, western Europe. Niegsch originally joined Dunlop Germany in 1998 as manager, sales countries, western Europe and was appointed director the following year. In 2001 he assumed his current position as director of marketing and sales for Goodyear’s Eastern Europe, Middle East and Africa region. The UK manufacturing operations at Wolverhampton and Washington will report directly to the European regional manufacturing HQ in Luxembourg, as part of the current policy to centralise product sourcing to obtain maximum efficiencies.

27th November 2002/by Tyrepress Editors

Kumho UK Appoints Sales Director

From 1st December, Steve Tidmarsh will be the new Sales Director of Kumho UK. He has a wealth of experience in the UK tyre industry, having spent some 29 years with Goodyear UK in a series of senior positions, most recently that of Sales and Marketing Director, Consumer Tyres. He takes up his new post with the company in a planned move from Kumho UK’s exclusive Marshal brand distributor, Bond International, whom he joined earlier this year to gain experience of the wholesale market in the UK.

27th November 2002/by Tyrepress Editors

Management Changes At Goodyear

Goodyear has appointed Jonathan Rich (47) as president of the company’s North American Tire unit. He succeeds John Polhemus (58), who is to retire after a career with Goodyear spanning 33 years. Rich was elected President of Goodyear Chemical last year, having joined the company in 2000. His successor as President is Joseph Copeland (41), director of finance for Goodyear’s Engineered Products and Chemical divisions.

22nd November 2002/by Tyrepress Editors

Goodyear Makes InformationWeek 500

In the USA, Goodyear has been ranked number 118 in the InformationWeek top 500 list. This list ranks US companies with turnovers of more than $1 billion according to patterns of technical, operational and organisational innovation. The listing pleased Eric Berg, Goodyear vice president for e-commerce and chief information officer, who pointed out that the list is compiled on the basis of an organisation’s innovative use of information technology, rather than merely who spends the most on IT.

19th November 2002/by Tyrepress Editors

Environmental Award For Goodyear North America

Goodyear’s North American Tire region has been recommended for certification to ISO 14001 environmental standard. The standard requires an organisation to identify and reduce its impact on the environment beyond legal requirements.

19th November 2002/by Tyrepress Editors

Goodyear/Dunlop UK: Three-Pronged Approach

Related news: Two New TruckForce Regional Managers Goodyear Ploughs its Way to the Championships Goodyear Dunlop to Consult Over ‘Defined Contribution’ Pension Scheme Goodyear Dunlop Associates Abseil for Teen Cancer Trust

5th November 2002/by Tyrepress Editors