Goodyear Archives - Page 240 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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Now Tyre Problems For Goodyear In USA

Reports in American newspapers suggest tyre tread separation problems with Goodyear tyres are being linked to eight deaths. The Goodyear 16 inch Load Range E tyres received a design alteration five years ago, but no recall was made. Goodyear said it had found no faults in the tyres, but did settle several lawsuits arising from the incidents. Amounts and details of the agreements have been kept secret. However, the lawsuits were very similar to those currently facing Firestone.

7th December 2000/by Tyrepress Editors

First Take-off For “Spirit of Goodyear”

Goodyear’s newest Blimp has finished its first flight successfully. The blimp “Spirit of Goodyear” follows the “Spirit of Akron” which crashed last year.

7th December 2000/by Tyrepress Editors

Save Gas With Goodyear

Goodyear’s Chief Engineer of Product Design has warned of the economic cost of tyre under-inflation as gasoline prices reach a new high in the USA. Petrol consumption and tread life are adversely affected. A Goodyear survey showed up to 28p.c. of vehicles had “seriously under-inflated” tyres.

7th December 2000/by Tyrepress Editors

Acceleration For The Firestone Tyre Recall

In an attempt to quicken the recall of tyres, Bridgestone/Firestone is to airlift tyres from its Japanese plants to the USA. At least one flight a day is anticipated. Ford has announced that it is to stop production of the Ford Explorer at its St. Louis factory and of the Ford Ranger at two New Jersey plants for two weeks. The Ranger is fitted with the same size tyres as those fitted on the Explorer and being recalled by Bridgestone/Firestone. The move will free up 70,000 tyres for replacement and it is estimated that the cost to Ford in lost production will be over $100 m in after-tax profits. Ford is also understood to have increased orders of tyres other than Firestone to speed up replacement of tyres for the Explorer. Goodyear says it has increased production fivefold and production at Michelin’s US factories has tripled.

7th December 2000/by Tyrepress Editors

Engineered Products Consolidation At Goodyear Plant

Goodyear is to consolidate and streamline fabric production for its engineered products (conveyor belts, hoses, air springs) at its plant at Cartersville, Georgia. Automotive and truck tyre fabric production was discontinued at the plant last year.

7th December 2000/by Tyrepress Editors

Goodyear Invests 50 Million Marks in Production Base Philippsburg

This year Deutsche Goodyear will invest a total of 50 million marks in new production facilities at its Philippsburg factory while simultaneously introducing more flexible working hours. Having obtained the agreement of the works council to a seven-day week (now 21 shifts per week instead of the former 17 shifts), productivity at the German Goodyear factory is now set to increase once more. The additional capacity thus created will be utilised chiefly to produce high-speed tyres, whose market importance in Germany has been rising steadily for several years. Central to the investment is super-modern machinery for the further improvement of product quality in the manufacturing process for high-speed tyres -–a market segment of central importance to Goodyear’s strategic development. “The production volume of five million tyres at Philippsburg will remain unchanged for the time being”, declared Leo Ruf, a member of the management, “but the share of high-speed tyres in our annual production will go up by 700,000 to approximately four million units.” The background: Since 1995 demand for technologically sophisticated tyres in high-speed categories of more than 240 km/h (speed indices W, Y and ZR) alone has grown by over 200,000 units per year in the German market. This interesting niche is estimated to double from 1.5 to at least three million units by the year 2001.

7th December 2000/by Tyrepress Editors

New Managing Director For Goodyear UK

It has been announced that Mr S McDonald has been appointed Managing Director of Goodyear UK, with additional responsibilities for the Goodyear/Dunlop integration in the UK. This appointment is part of an extensive series of strategic management changes within the company’s European Union organisation, all of which, will take immediate effect.

7th December 2000/by Tyrepress Editors

Tronchetti Provera Considers Positively The Goodyear/Michelin JV

The Chief Executive Officer of Pirelli, Mario Tronchetti Provera, considers the PAX-agreement between the two tire giants positively. Pirelli is already a developing partner, together with Michelin, regarding PAX and Run Flat Technologies in general. Tronchetti said that Goodyear’s involvement will further accelerate the development and the promotion of PAX.

7th December 2000/by Tyrepress Editors

Gold-Mine For Pirelli

Pirelli sold a 90% share (Cisco holds 10%) in the very young company Optical Technologies. OT has around 100 employees and a first half-year turnover of US$ 12 m. Turnover for the whole year is expected to be US$ 30 m. Optimistic observers speculated that the price would be around US$ 1 bn, while Pirelli in fact received slightly over US$ 3 bn (after tax) in cash. According to the management, acquisitions in the tyre field are unlikely, but it may be that Pirelli can bring forward the introduction of its MIRS system faster than expected. Pirelli is, and will remain, in partnership with Michelin and Goodyear to promote the PAX system.

7th December 2000/by Tyrepress Editors

Pirelli: Investments In Telecommunications And Internet

According to Italian financial analysts Pirelli will use the US$ 2.15 bn received from the purchase by Cisco of their ‘Terrestrial Optical Networking Systems’ for investments in telecommunications and the Internet.

7th December 2000/by Tyrepress Editors

Tyre Manufacturers In Global E-Commerce Initiative

Company News, International News, News

Six of the largest tyre manufacturers have announced their intention to develop a global e-business purchasing company. Rubbernetwork.com is an independent company which will host a global exchange, including Conti, Cooper, Goodyear, Michelin, Pirelli and Sumitomo Rubber. Confidentiality is assured and the exchange will be open to all manufacturers and suppliers. It will be operating by the year end. ‘Significant’ savings and efficiencies in purchasing are predicted.

7th December 2000/by Tyrepress Editors

Stock Exchanges Are Losing Trust In Tyre Industry

After profit warnings from Goodyear, and from Michelin, the tyre industry is losing credit and trust at stock exchanges all over the world. Continental has now also been downgraded from “buy” to “Market perform”.

7th December 2000/by Tyrepress Editors

Third Quarter Loss For Goodyear

Goodyear reported a net loss for the third quarter of $6.6 million and a net income of $109.1 m (Q3 1999: $3.3 bn). High raw material and energy costs were contributory factors. World-wide Q3 sales were $3.5 bn and sales for the first nine months of the year were $10.5 bn (1999: $9.3 bn). Before these figures were revealed, analysts – following a statement towards the end of September by Samir Gibara, describing a “difficult outlook” for the tyre industry – had widely expected Goodyear to break even at best.

7th December 2000/by Tyrepress Editors

Goodyear Confidence For Latin America

US tyre manufacturer Goodyear has announced its confidence in the Latin American market during the year 2000. The company believes it will be able to increase its Ebit-margin significantly.

7th December 2000/by Tyrepress Editors

Risers And Fallers In May

Goodyear, Toyo and Cooper were the losers in mid May, although Toyo shares – like those of Pirelli – had increased in the beginning of the month. In the automotive industry, BMW, Mitsubishi and Volkswagen were the heaviest losers. But the shares of DaimlerChrysler, General Motors, Honda and Toyota lost as well. DaimlerChrysler, Fiat and Volvo even fell to an all year low.

7th December 2000/by Tyrepress Editors