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.
The Goodyear Tire & Rubber Company has completed refinancing its principal US credit facilities. Darren R Wells, executive vice president and chief financial officer, said the actions “position the company” to continue implementation of its Strategy Roadmap: “We see this refinancing as a proactive step to improve our financial position, leaving us with no term debt repayments required until 2019.”
Goodyear's 2012 annual shareholder meeting was held on 17 April at the company’s headquarters in Akron, and chairman and CEO Rich Kramer told those in attendance that he was “pleased” with the tyre-maker’s 2011 performance, outlining the company’s “strategy roadmap”, Tire Review reports. Pointing to record sales of $22.8 billion and record segment operating income, Kramer said, “What is most gratifying is that our record results across all global businesses were achieved in the midst of continued economic uncertainty around the world through successful execution of our strategy. Our ‘strategy roadmap’ is the foundation for decisions on every aspect of the business, from marketing and product development to investment and team building.”
The Goodyear Tire & Rubber Company has announced a new aviation tyre supply deal, continuing its original equipment range expansion in the industry. Brazil-based Embraer Defense and Security has selected the tyre manufacturer to equip its KC-390 twin-engine, jet-powered military airlifter and tanker with Goodyear military aviation tyres.
Goodyear has shown the puncture resistance of its DuraSeal technology during a demonstration at the Mid-America Trucking Show in Louisville, Kentucky. Attendees drove 367 nail holes into a Goodyear G394 SST wide-base trailer tyre at the company’s booth, without any impact on its inflation. The tyre manufacturer has previously shown DuraSeal-incorporated tyres at events in Europe, such as Tip-Ex at North Yorkshire’s Harrogate International Centre in 2011, where it displayed its Omnitrac MSS II and MSD II tyres.
The Goodyear Tire & Rubber Company has announced that it will report first quarter 2012 financial results on Friday, 27 April, to be followed by an investor conference call at 8:30 EST (13:30 GMT). The conference call will be taken by Richard J Kramer, chairman and chief executive officer, and Darren R Wells, executive vice president and chief financial officer.
Nexen Tire has announced that it has been selected as original equipment (OE) manufacturer by Fiat. Under the agreement, Nexen will supply tyres for Fiat's Multipla model range, scheduled for production from March 2013, as well as Fiat's Doblo light commercial vehicle (from 2014).
Nine months after a fatal crash in Germany ended Goodyear Dunlop’s 2011 European blimp-centred promotional campaign, the tyre maker reports the Goodyear Blimp has returned to our skies. The Spirit of Safety is taking to the air from mid-March until July to embark on a nationwide tour in support of the tyre brand’s planned road safety initiatives. Throughout its three or so months of service, the airship will deliver road safety messages as it underlines the importance of The Highway Code, with particular emphasis placed on young driver education. A renewed media partnership with Sky Sports will also reach out to a worldwide sporting audience as the Goodyear Blimp flies over major Premier League football matches as well as international cricket, golf and rugby games.
Say hello to ‘Terry the technician’. Goodyear Dunlop’s retail team has rolled out a new communication campaign strategy on tyre labelling to the direct dealer partners in its HiQ network, and will show the importance of reading labels through the activities of an imaginary tyre fitter.
Ex-Bridgestone research scientist Xiaorong Wang has been indicted on charges of stealing trade secrets from the tyre maker and providing investigators with false information. Before his dismissal on 14 April 2010, Wang worked at the Bridgestone Americas Center for Research and Technology in Akron, Ohio; it is alleged that after being fired, Wang downloaded proprietary information and removed it from Bridgestone premises.
TC Debica has reduced its production output after Goodyear, who owns 66.05 per cent equity in the Polish tyre maker, reduced its orders with the company. In a statement, Debica said that in March 2012 it will produce approximately ten per cent less passenger car and truck tyres and 4.5 per cent fewer agricultural tyres than planned. In relation to the company’s annual product plan, this equals a one per cent reduction in passenger car and truck tyre output and a half per cent decline for agricultural tyres.
New Zealand’s Ministry for the Environment has pledged NZ$135,000 (£70,000) to fund research into tyre recycling options. Environment minister Nick Smith announced on 14 March that the money will go to the Product Stewardship Foundation, who will utilise it through Tyrewise, a product stewardship programme it has established. The grant covers 79 per cent of the costs the Tyrewise project will incur and is payable upon the completion of seven milestones that culminate in readying a recycling scheme for launch.
Goodyear’s Eagle F1 SupercarG:2 has been selected by General Motors as an original equipment fitment for the 2012 Chevrolet Camaro ZL1. Goodyear said the tyres – size 285/35ZR20 for the front and 305/35ZR20 for the rear – have been optimised specifically for the 6.2 litre, 580hp V8 to “yield outstanding handling while maintaining excellent street tyre performance for wet handling, tread wear, low noise and rolling resistance.”
They say that all publicity is good publicity, but Goodyear executives probably could have done without the publicity it got from CNBC last week. The consumer news and financial information channel asked why Goodyear shares had fallen 13 per cent this year in an improving environment during a 7 March broadcast. The answer that Jeffery B. Middleswart, president, director of research at Behind the Numbers, was blunt to say the least: “This is a company basically bleeding to death.”
A symposium held by Goodyear Dunlop in Brussels bringing together a panel of transport exports has identified the most important fuel-saving measures in front of around 170 transport executives and senior government figures. Aerodynamic devices, incentives, training, low rolling resistance tyres and new length regulations were some of the key techniques in helping to reduce vehicles’ CO2 emissions. The symposium, entitled, ‘Best Practice in Reducing Fuel Consumption’ included panellists Marco Digioia, secretary general of UETR (European Road Haulers Association); Benny Smets, managing director of Belgium-based haulage company NinaTrans; and Gandert Van Raemdonck, researcher at Delft University of Technology.
Amongst the innovations on show at Goodyear Dunlop’s Stand during the Geneva Motor Show is the company’s Air Maintenance Technology, which has been under development in Goodyear’s laboratories over the past two years and now being displayed publicly for the first time. The AMT system requires no external pump, electronics or driver intervention and is promoted as a technology that relegates the need to check tyre pressure to the dustbin of history. While Goodyear Dunlop claims it is too early to predict when AMT will be ready for its commercial launch, development work continues and is being supported by grants provided by the US and Luxembourgish governments.
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