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.
A report from analysts Morgan Stanley reveals that preliminary figures released by the US Rubber Manufacturer Association (RMA) show a decline in aftermarket tyre sales in February of passenger car, light truck and commercial truck tyres.
The Goodyear Tire & Rubber Company has declared a quarterly dividend of 73.44 cents per share of mandatory convertible preferred stock. The payout represents an annual rate of $2.9375 per share.
Two further companies have announced higher prices for their North American customers. As of 1 April Goodyear will increase prices on all its consumer and commercial tyres by up to six per cent. The increase impacts all original equipment and replacement market Goodyear, Dunlop and Kelly brand tyres sold in the US and Canada.
The comparative tests conducted by German publications carry a lot of weight within the European tyre industry, and therefore manufacturers are keen to spread the word when their products are evaluated favourably. Motorwelt, the magazine distributed to all members of the motoring organisation ADAC, evaluated two sizes of summer passenger car tyre and one 4×4 tyre in its March 2012 edition. Apollo Tyres has already shared news of its 3G Maxx’s performance in the 165/70 R14T class; now Bridgestone reports a strong finish for its Turanza T001 in the size 205/55 R16V category.
On 28 February Goodyear Tire & Rubber called for the redemption on 29 March 2012 of all its outstanding US$650 million 10.5 per cent senior unsecured notes due 2016. The redemption price will be 107.875 per cent of the principal amount being redeemed on the date of redemption, plus the interest payment amount scheduled for 15 May 2012 (less accrued and unpaid interest to 29 March 2012), computed using a discount rate equal to the yield of a comparable US Treasury security plus 0.50 per cent. In addition, holders will receive accrued and unpaid interest to 29 March 2012.
Octavian Velcan has been appointed managing director of the Goodyear Dunlop Off the Road tyre business for Europe, Middle East and Africa (EMEA). Velcan will report to Michel Rzonzef, recently-appointed vice president of the Goodyear Dunlop Commercial Business Unit EMEA, which includes the truck tyre, OTR tyre and farm tyre business and customer support services.
A recall of more than 40,000 Goodyear tyres has been announced in the US. The tyre maker has issued a recall for products within its Wrangler Silent Armor range, claiming the tyres may “experience a partial tread separation under certain severe usage conditions.” The tyres in question were built between weeks 9 and 22 of 2009, or 31 March to 31 May. The affected sizes are LT235/80R17 LRE, LT325/60R18 LRE, LT275/70R18 LRE, LT265/70R17 LRE, LT245/75R17 LRE and LT285/70R17 LRD.
The Goodyear Tire & Rubber Co has expanded its portfolio of Dunlop brand truck tyres with the new Dunlop SP348. The all-position steer tyre is designed for regional fleet, school bus, and pickup and delivery applications. It has a deep tread for increased longevity, a rugged casing design, enhanced shoulder ribs and stone ejectors in grooves.
Goodyear Dunlop has promoted Romanian staff members, Alina Mihaescu and Daniel Matei to regional management positions. Alina Mihaescu was appointed commercial marketing manager central and south-eastern Europe (CSEE) starting from January of this year and Daniel Matei is now the trade marketing & customer training manager for CSEE.
Motor Wheel Service has launched its “next generation Xbrite” single part, transparent finish. The protective coating was specially developed for MWS, offering what the Wythenshawe-based distributor calls “the highest levels of corrosion resistance and unrivalled shine for xlite forged aluminium wheels”.
The Goodyear Tire & Rubber Company has announced that it has commenced a public offering of $700 million aggregate principal amount of 10-year senior notes, subject to market and other customary conditions. The notes will be senior unsecured obligations of the company.
The latest tyre tests produced by German motoring association ADAC, in partnership with OAMTC (the Austrian equivalent) were dominated by tyres produced by Continental. But there were also surprisingly strong performances from emerging and second line brands such as Apollo and Barum set against a disappointing result for Infinity.
Goodyear Dunlop has launched a new web-based Fuel Efficiency Calculator, modelling the conditions under which Europe’s road haulers operate to predict the effect tyre choice, investments in driver training, and various aerodynamic retrofit solutions will have on fuel bills and companies’ environmental credentials. The calculator was developed alongside Panteia/NEA, which provided detailed market information from across Europe for increased accuracy. It is available free of charge to any European fleet operator or interested person.
A recently published report by TechSci Research suggests that the Brazilian replacement tyre market will grow as the country’s increasing prosperity encourages drivers away from retreaded tyres. Karan Chechi, research director with TechSci Research argues: “The Brazilian tyre market is anticipated to grow at a compound annual growth rate of around 13 per cent for the next five years. It is forecast that its replacement tyre market will grow at a much faster pace than anticipated earlier due to the increasing number of automobiles on Brazilian roads, [which is expected] to reach 63 Million units by 2016.”
The endorsement of Goodyear’s truck tyre retread cushion life extension as “Tyre Manufacturing Innovation of the Year” by Tyre Technology International has been greeted with “honour” by Jean-Claude Kihn, chief technical officer for The Goodyear Tyre & Rubber Company. The Multi-Piece Cushion technology was called “a big advantage for Goodyear Authorised Retreaders.”
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