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 reports that its rolling resistance optimized Fuelmax tyres on trucks taking part in the Mercedes-Benz Efficiency Run 2015 contributed to an overall reduction in fuel consumption of up to 14 per cent.
Goodyear Tire & Rubber has narrowly beat Michelin to be named Fortune magazine’s most admired tyre maker for 2016. The publication ranked Goodyear as its third most admired company in the motor vehicle parts category, ahead of Michelin at number five and Continental at number eight.
Goodyear has unveiled its latest concept tyre, the Eagle-360, and it’s one of the more radical departures from traditional tyre design; it is a sphere. The 3-D printed model presents a long-term vision of future mobility, in which autonomous driving is expected to be more mainstream. Goodyear’s video demonstrating its vision of the Eagle-360’s place in the future of autonomous mobility is embedded in the full article.
It isn’t just assessment time for summer tyres as the warmer months of the year approach. Gute Fahrt magazine has put nine all-season tyres to the test, and this is good news for UK consumers who are taking to this product segment in growing numbers. The tyres were evaluated for their summer characteristics (wet and dry braking and handling, rolling resistance, noise and comfort) as well as their performance in the snow. All-season mastery of the various weather scenarios was also compared to the characteristics of dedicated seasonal rubber.
During a conference call yesterday, Titan International chief financial officer John Hrudicka confirmed that sales of Goodyear agricultural tyres in Europe had commenced, with initial orders being supplied from the US. “The early reception to the re-entry of Goodyear is very encouraging and demonstrates the brand still holds tremendous value in Europe,” he commented.
An all-new Goodyear agricultural tyre, the Optitorque, has been launched in the North American market. So far no word has been given on plans to market the Optitorque in Europe, however Titan International’s acquisition of the rights to distribute Goodyear agricultural tyres within the region makes its introduction over here a very real possibility.
Dale Earnhardt Jr, 26-time NASCAR winner, is to become the “featured expert” who chooses Goodyear tyres on and off the track in a series of broadcast, digital and print ads. Earnhardt describes his selection as a Goodyear Tire & Rubber brand ambassador as building on his existing connections with the tyre maker.
Goodyear Dunlop Tyres UK has been awarded Top Employers United Kingdom 2016 and Top Employers Europe 2016 certification by Netherlands-based organisation Top Employers Institute. The tyre maker’s UK business gained Top Employer certification along with Goodyear’s European headquarters and 11 other national and regional operations. This is the fourth consecutive year that Goodyear Dunlop has gained certification in the UK and Europe.
A one-time pre-tax charge of US$646 million linked to the deconsolidation of its Venezuelan subsidiary’s financial statements dragged Goodyear Tire & Rubber into the red in the fourth quarter of 2015. The tyre maker recorded a GAAP basis net loss of $380 million during the three months to 31 December 2015, a far cry from the $2.1 billion net income achieved a year earlier. Goodyear calculates that excluding certain significant items, most notably the abovementioned deconsolidation, adjusted net income came to $257 million, or $0.93 per share.
Goodyear Tire & Rubber chairman, president and chief executive Richard J. Kramer has sold around ten per cent of his shares in the company he heads up. According to a document filed with the United States Securities and Exchange Commission, on 2 February the Goodyear boss disposed of 29,000 shares for an average price of US28.0403 per share – a total of $813,168. Following the transaction, Kramer retains 259,864 shares.
Goodyear has become the sole tyre supplier to Newport Bus, the city of Newport’s principal bus operator. The fleet of nearly 100 buses, with 45 services covering a network of 200 square miles, will be fitted with Goodyear UrbanMax MCA and MCD Traction tyres. Scott Pearson, managing director at Newport Bus, says: “We were impressed with the UrbanMax product, in particular its durability and all season capability. However what really clinched it for us was the service offer from TruckForce.”
The Federation Internationale de l’Automobile (FIA) has chosen Goodyear as the exclusive tyre partner for the FIA European Truck Racing Championship for the next three years. The partnership extends and expands Goodyear’s long involvement in the series for which it has been producing special developed truck racing tyres since 2004. The tyre manufacturer was rewarded for the proven performance of its tyres with the renewal of its contact, which makes Goodyear a partner of the newly formed ETRA Promotion GmbH (ETRA) – the series’ new promotor.
The De Rooy truck team recently won the Dakar 2016 rally truck category, driving on standard Goodyear ORD off-the-road truck tyres. The event, which concluded on Saturday 16 January 2016 covered approximately 9000 kilometres in 13 days on the toughest terrain that Argentina and Bolivia can offer, the Dakar – or the ‘Odyssey’ as it is known – is acknowledged as the world’s toughest race.
Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.07 per share of common stock. The dividend is payable 1 March 2016 to shareholders of record on 1 February 2016. The payout represents an annual rate of $0.28 per share.
Eight former workers at Goodyear’s Amiens Nord tyre factory in France have been sentenced to nine months in prison and given suspended sentences of 15 months for their roles in the January 2014 ‘bossnapping’ of two Goodyear managers. The workers faced charges of kidnapping and violence in a meeting.
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