Goodyear Archives - Page 223 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 Appointments

Gary D. Forsee (52) has been elected to the board of directors of the Goodyear Tire & Rubber Co. Forsee is vice chairman of domestic operations for the BellSouth Corp. and is described by Sam Gibara, Goodyear CEO as “a seasoned business leader with global experience in operations, marketing and strategic planning.” Goodyear has also appointed three corporate officers; Kathleen T. Geier (45), senior vice president, human resources; John G. Loulan (56), vice president, operations and Darren R. Wells (36), vice president and treasurer.

7th August 2002/by Tyrepress Editors

Investor Relations Director For Goodyear

Goodyear Tire & Rubber has appointed Barbara B. Gould (52) as director of investor relations from September 1st, succeeding Laura K. Thompson, who will become director, finance – consumer tyres for the North American business unit. Gould has a history of investor relations and as a financial analyst; in her new role she will report to Robert W. Tieken, executive vice president and chief financial officer.

1st August 2002/by Tyrepress Editors

Goodyear Chooses Exel In USA

In North America, Goodyear has chosen Exel Logistics as its lead logistics provider. Goodyear is keen to improve fill rates to dealers, particularly its independent dealer network, and sees Exel (with whom the company has been working since 1996) as the means of streamlining the supply chain.

24th July 2002/by Tyrepress Editors

Goodyear Invests $250 Million Upgrading

Goodyear Tire & Rubber Company is investing 250 million dollars upgrading its Lawton, Oklahoma plant. The project will be split into two phases spending 125 million dollars on each phase. The initial project should be completed in early 2003 and the second phase should begin in mid-2003. The project is being driven by the demand for low profile, large diameter tyres and run-flat tyres. The company will be upgrading tyre building equipment and installing new tyre finishing tooling to produce tyres over 18 inches in diameter. There will also be a new 475,000 square foot warehouse facility constructed.

17th July 2002/by Tyrepress Editors

New Vice Treasurer For Goodyear

Goodyear Tire and Rubber Company has named Darren R. Wells as its new vice president and treasurer of the North American division. 36 year old Wells arrives from his post as the assistant treasurer at Visteon and will start work on 1st August reporting directly to Stephanie Bergeron. Prior to his spell at Visteon Wells spent 11 years with Ford, largely in the Australian division.

10th July 2002/by Tyrepress Editors

Further Fall For Goodyear Shares

Goodyear shares fell to just 17 US$ on Friday; a loss of 6 per cent over the week. Asian companies fared better, with gains for Hankook (+10 p.c.), Kumho (+ 9 p.c.), Sumitomo Rubber (+ 8 p.c.) and Bridgestone (+ 8 p.c.).

8th July 2002/by Tyrepress Editors

Goodyear Reacts to ‘Mini Tender’

The Goodyear Tire & Rubber Company said it has become aware of an unsolicited “mini tender” offer by TRC Capital Corp. to purchase up to five million shares of its common stock, or approximately 3 percent of Goodyear’s total shares outstanding, for $19.50 per share. Goodyear said it expressed no opinion on the unsolicited offer, but advised its shareholders to exercise extreme caution in considering the offer. “Mini tender” offers are not subject to many disclosure, filing and procedural protection requirements of the U.S. Securities and Exchange Commission and are often structured to obtain shares at below market prices. “Mini-tender” offers – tender offers for less than five percent of a company’s stock – have been increasingly used to catch investors off guard. Many investors who hear about mini-tender offers surrender their securities without investigating the offer, assuming that the price offered includes the premium usually present in larger, traditional tender offers. But they later learn that they cannot withdraw from the offer and may end up selling their securities at below-market prices. Goodyear urged its shareholders to review the terms of the “mini tender” offer carefully and to consult with their financial advisors before considering this offer.

27th June 2002/by Tyrepress Editors

Jean Bergh New Managing Director At GTC*L

The new Managing Director at the Goodyear Technical Centre in Colmar-Berg, Luxembourg (GTC*L) is Jean Bergh (59) after the retirement of Theo Famulok. Famulok has headed up the 900 technicians at Goodyear’s R & D centre since 1994. 900 technicians in Luxembourg develop car, truck and agricultural tyres for Europe as well as for the Asian and African markets.

20th June 2002/by Tyrepress Editors

Goodyear Eagle Tops UK Test

Goodyear’s Eagle F1 high performance tyre came top in a test of eight premium brands, organised by UK specialist motoring magazine EVO. Drivers rated the tyres in a series of 11 tests over five days – all the tests were conducted “blind” – and the Eagle F1 attained the highest aggregate score as well as winning outright the wet and dry braking categories and coming joint first in the wet lateral test.

19th June 2002/by Tyrepress Editors

Credit Rating Cut For Goodyear

In the USA, Moody’s Investors Service became the second credit-rating organisation this year to downgrade Goodyear’s credit rating. Weak sales, and the prospect of little improvement this year, were the main reasons given. The cut means that Moody’s have reduced Goodyear’s credit rating to junk status.

17th June 2002/by Tyrepress Editors

Possible Closure For Goodyear Mould Factory

There is uncertainty over the future of Goodyear’s mould factory at Stow, in the Akron area. The plant has been operating at around 30 per cent capacity, producing mainly moulds for experimental and motorsports tyres. There are 117 hourly-paid workers at Stow, who have been notified that the plant is likely to close. Goodyear has upped mould production to lower wage-earning factories in order to cut costs. Talks between management and unions last week broke up without agreement.

17th June 2002/by Tyrepress Editors

New RV Tyre From Goodyear

Goodyear has responded to the increasing number of recreational vehicles (RVs) by introducing a tyre specially designed for such vehicles, the G670 RV Unisteel. There are an estimated nine million RV owners in the USA and Goodyear members of its Truckwise commercial vehicle tyre service network in the special requirements of RVs.

17th June 2002/by Tyrepress Editors

“Spirit Of America” Blimp From Goodyear

Goodyear is to build a new airship to replace its Los Angeles-based blimp, “Eagle”. The new ship will be called “Spirit of America” to reflect the country’s patriotic spirit. The “Eagle” has a proud history, ferrying astronauts, film stars and ex-President Ronald Reagan as well as appearing on numerous TV shows.

10th June 2002/by Tyrepress Editors

Savvy Goodyear Buy More Sava

Goodyear has strengthened its hold on Sava by increasing its stake in the Slovenian tyre manufacturer to 80 per cent, with a right to purchase the remaining 20 per cent between 2004 and 2005. Goodyear has invested over 90 million dollars in modernising Sava Tires. Sava employs some 1,400 staff, manufactured over six million tyres in 2001 and posted sales in excess of 230 million dollars.

8th May 2002/by Tyrepress Editors

College lab Named In Goodyear’s Honour

Spelman College, in Atlanta, recently opened the Goodyear Tire & Rubber Company Synthetic Chemistry Research Lab. The lab was named for Goodyear as recognition “of the company’s belief in the importance of a diverse workforce and for investing in the potential of African American women scientists.” Spelman College is recognised as a premier private, liberal arts, historically Black college for women.

26th April 2002/by Tyrepress Editors