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.
According to the United Steelworkers (USW) union, its members have ratified a new collective bargaining agreement with Goodyear Tire & Rubber Company on behalf of about 7,200 workers at five plants in the USA. Members approved the agreement covering the Akron (Ohio), Danville (Virginia), Fayetteville (North Carolina), Gadsden (Alabama) and Topeka (Kansas) facilities by a three-to-one margin.
Effective 1 September, Christopher Helsel will take over as chief technology officer at the Goodyear Tire & Rubber Company, and additionally take on the role of vice-president. Helsel, who currently serves as director, North America commercial and global off-highway technology, succeeds Joe Zekoski as chief technology officer.
During the last year or so everyone selling truck tyres had to face the reality that raw material costs had been increasing. The specific impact that this reality had and is having on the truck fleet business varies from company to company because it depends on terms, conditions and when contract deadlines fall. However, in general there are indications that the market is moving away from short term purchase price-only thinking as long-term value becomes a more critical criteria. Tyres & Accessories spoke with Marc Preedy, commercial director Goodyear UK and Ireland, in order to find out more.
The outcomes of comparative tests published by car magazines and motoring associations influence many drivers’ purchasing decisions. Tyre tests are no exception here, and therefore the pride Goodyear shows in its tyres’ test performance is understandable. The tyre maker reports that, in 208 magazine tyre tests carried out by 37 well-known European publications and organisations over the past five years – including Auto Express, ADAC, Auto Bild, Auto Bild Allrad, Auto Zeitung, Gute Fahrt, Auto Moto and ACE/GTÜ – Goodyear tyres were recommended in more than 80 per cent of them. Goodyear was named test winner in 43 of these tests.
In response to recently reported news about plans for its factory in the USA, Sumitomo Rubber Industries (SRI) states that the plant in Buffalo, New York will deliver original equipment Dunlop tyres to Japanese car manufacturers in the future. A representative of SRI stressed to Tyrepress.com that it is the make to order tyre production commissioned by Goodyear that will reduce and then stop entirely in 2018.
When the global joint venture between Goodyear Tire & Rubber and Sumitomo Rubber Industries (SRI) ended in 2015, the Goodyear tyre plant in Buffalo, New York became a SRI asset. Production of Dunlop branded tyres destined for fitment as original equipment on new vehicles nevertheless continued, however it seems SRI intends to discontinue this arrangement next year.
A combination of raw material cost volatility, a challenging competitive environment and weakening demand in certain segments and markets have resulted in another quarter of lower net sales and income for Goodyear Tire & Rubber. In the three months to 30 June 2017, net sales declined 5.0 per cent to US$3.69 billion while operating income was down 32.0 per cent to $361 million. Net income dropped 26.7 per cent to $147 million ($0.58 per share), with adjusted net income amounting to $177 million ($0.70 per share), down 43.6 per cent from a year earlier.
A tentative agreement has been reached on a new five-year master labour contract covering almost 7,000 workers at five Goodyear Tire & Rubber plants in the USA. The agreement between the tyre maker and the United Steelworkers (USW) union covers plants in Akron (Ohio), Danville (Virginia), Fayetteville (North Carolina), Gadsden (Alabama) and Topeka (Kansas).
According to figures published by the European Tyre and Rubber Manufacturers’ Association, the all-season segment is the fastest growing in Europe. In response to the increasing popularity of this products, Goodyear is adding a further 14 sizes to its Vector 4Seasons Gen-2 product line.
The Goodyear Tire & Rubber Company has appointed Maureen Thune as its chief procurement officer, succeeding Mark Purtilar who is retiring from the company.
A further original equipment homologation for the VW Arteon has been announced. Size 225/55R17 97W and 245/45R18 96W versions of the Goodyear Eagle F1 Asymmetric 3 featuring the company’s extended mobility SealTech technology have been approved for OE fitment on the new five-door fastback.
In May, Goodyear Dunlop Tires Germany stated it would cease production at its Philippsburg car and light commercial vehicle tyre factory by the end of July. The end came a fortnight before this self-imposed deadline. The last regular shift within the plant went to work last Friday – employee union BCE comments that production ended earlier than planned due to “a labour shortage.”
The number of teenagers who are not learning to drive has fallen by nearly 30 per cent in a decade – a record number, revealed by DVSA data.
The cost of university, rising price of car insurance and changes in mobility, particularly car sharing, are all deciding factors in this decline. Kate Rock at Goodyear Tyres has reacted to the findings, explaining the generational change in people’s attitudes towards driving and the impact this will have on automotive innovation.
Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.10 per share of common stock. The dividend is payable 1 September 2017 to shareholders of record on 1 August 2017. The payout represents an annual rate of $0.40 cents per share.
Some artists specialise in the human form, others find inspiration in landscapes and nature. And then there’s the guy who sketches tyres for a job. He’s part of a four-person team responsible for design at the Goodyear Innovation Center Luxembourg (GIC*L), and upon visiting at the end of June we were surprised to discover that the global top-ten manufacturer’s tyre design process begins with a very low-tech pencil and paper drawing.
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