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 Tire & Rubber Company is planning “rationalization and workforce reorganization” actions that would result in a 5 per cent reduction in salaried staff globally, or about 500 positions. According to executives, the move has been prompted by the “challenging industry environment and cost pressure driven by inflation.” However it is also attributed to weaker-than-expected fourth-quarter results:
Mercedes-Benz has awarded Goodyear its ‘Preferred Partner of Tires’ status in Austria for a second consecutive time. The vehicle manufacturer performs a comprehensive evaluation of its partners every two years, and after granting Goodyear this distinction in 2021/22, it has confirmed its preferred status for 2023/24.
Goodyear tyres were the winning choice of 2023 Dakar Rally winner Team De Rooy, which took victory at the end of 16 challenging days of action across the Saudi Arabian desert. After almost 5,600 miles or 9000 kilometres of rock, sand and muddy terrain, with more than half of those as special stages, the Dutch team finished first, third and fourth with three of its Iveco trucks.
Players of the rFactor 2 motorsport simulation will benefit from a partnership between Studio 397 and Goodyear. The tyre maker is helping the Studio 397 physics team understand the very deep and complex construction and reactions of racing tyres. The Netherlands-based video game developer says it has benefitted from “an exceptional collaboration and sharing of data and insight of late.”
Goodyear is investing US$200 million (about 1.37 billion yuan, £170 million, 190 million euros) in its Cooper Kun Shan tyre factory. Following the latest investment, the total investment of the Cooper Kun Shan plant is expected to reach $500 million (about 3.42 billion yuan, £410 million, 470 million euros).
Goodyear Tire & Rubber is working to ensure its former employees in the USA receive their company pensions following issues with some payments being made. According to the Akron Beacon Journal, a daily newspaper based in Goodyear’s hometown, pensions were due to be paid last Saturday. The publication quotes Doug Grassian, Goodyear’s director of global external and digital communications, as saying the company is working to fix the problem.
In addition to unveiling a demonstration tyre containing 90% sustainable materials, Goodyear announces it will begin selling tyres with up to 70% sustainable-material content during the course of this year. No details are available at present, but Goodyear invites “consumers interested in purchasing this tyre” to register for updates at a US market-focused site.
The Goodyear Tire & Rubber Company announced the appointment of Christina Zamarro to the role of Executive Vice President and Chief Financial Officer, reporting to Chairman, Chief Executive Officer and President Richard J. Kramer on 14 December. Zamarro succeeds Darren R. Wells, who will become Executive Vice President and Chief Administrative Officer. Both appointments are effective 1 January 2023.
The management board of Firma Oponiarska Dębica S.A. concluded a loan agreement with Goodyear S.A., Colmar-Berg, Luxembourg on 20 December 2022, under which Debica will grant Goodyear a loan worth 100 million Polish Zloty (£18.333 million; 21.338 million euros; US$27.676 million). The loan repayment date has been set at 19 December 2023.
Goodyear is a long-term headline supporter and tyre supplier of one the most heavyweight forms of motorsport: truck racing. The tyre manufacturer says supplying the tyres on which the series competes demonstrates the performance, durability and sustainability of its truck tyre technology. The 2022 Goodyear FIA European Truck Racing Championship season ended in Jarama, Spain on 2 October, the last of eight rounds, with Norbert Kiss winning his fourth title. Teo Calvet fending off close competition to win the Goodyear FIA ETRC Promoter’s Cup.
The Goodyear Tire & Rubber Company will continue to supply NASCAR racing tyres after the partners announced “a new multi-year agreement” renewing Goodyear’s position as the exclusive tyre for NASCAR’s top three national series on 1 December 2022.
Goodyear is contributing to the pursuit of increased realism in virtual racing via its collaboration with Studio 397, developer of the hyper-realistic rFactor 2 simulation engine. The tyre manufacturer says its partnership has led to a major step forward in replicating race tyre model behaviours in the virtual environment. Such developments allow esports drivers to get closer than ever to the experiences of their real-life counterparts. The engine, which uses thousands of data points to create an immersive and authentic experience, is used in the Le Mans Virtual Series, of which Goodyear is an official partner.
Goodyear has optimised its UHP tyre development by combining different techniques and disciplines through a statistical model, a process it used when working on the Eagle F1 Asymmetric 6. FEDIL has recognised Goodyear’s step forward with a 2022 Innovation Award. The Luxembourg-based multisectoral business federation has honoured the tyre maker in the ‘Process’ category of its awards.
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