The Goodyear Tire & Rubber Company
Company Profile
Business Overview
-The Company is one of the world's leading manufacturers of tires and rubber products.
-The Company manufactures and sells tires under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft and Roadmaster brands, various other Goodyear-owned house brands, and the private-label brands of certain customers.
-The Company has three operating segments representing its regional tire businesses: Americas: Europe, Middle East, and Africa (EMEA); and Asia Pacific.
-On June 7, 2021, it completed the acquisition of Cooper Tire & Rubber Company (Cooper Tire).
Competitors
-Bridgestone
-Continental
-Hankook
-Kumho
-Michelin
-Nexen
-Pirelli
-Sumitomo
-Toyo
-Yokohama
Shareholders
-The Company is listed on the NASDAQ Stock Exchange.
Products
Tires
-All-season tires
-Summer tires
-Winter tires
-All-terrain tires
-Fuel-efficient tires
-Run on flat tires
-Sport performance tires
-EV tires
Rubber-related chemicals for various applications
History
1898 | The Company was founded. |
1910 | Established the Company's first subsidiary and plant outside of the U.S. in Bowmanville, Ontario, Canada. |
1935 | Purchased Kelly-Springfield Tire Company. |
1961 | Acquired German tire manufacturer Fulda, and the Metal Wheel Company. |
1983 | Announced a merger between itself and Celeron Corporation, a diversified natural gas pipeline company. |
1985 | Entered a joint venture with Toyo Tire & Rubber Company. |
1986 | Signed an agreement with the Formosan Rubber Group Inc. to jointly produce automotive and industrial products in Taiwan. |
Purchased Long Mile Rubber Company and Min Tire Equipment Inc. | |
1987 | Formed 50:50 joint ventures with Pacific Dunlop Ltd., to establish South Pacific Tyres, an Australian partnership, and South Pacific Tyres N.Z. Ltd., a New Zealand company. |
1994 | Acquired a 60% interest in a USD 20 million joint venture with Qingdao Gold Lion Hose Company, the largest producer of auto hose in China. |
1996 | Purchased a 60% interest in Contred, a South African tire company. |
1999 | Announced USD 1 billion global alliance with Sumitomo Rubber Industries to establish six joint ventures in North America, Europe and Japan. |
2000 | Formed a joint venture with Treadco to combine its U.S. truck tire service and retreading outlets into a network of almost 200 service centers and 77 retreading plants. |
Reached an agreement with Michelin of France to jointly develop run-flat tire systems. | |
Signed an agreement with Phoenix Automotive to share hose manufacturing capacity in Europe and North America. | |
Sep. 2001 | Reached an agreement with Siemens VDO to develop and market a system to alert drivers to low tire air pressure and excessive tire temperatures. |
May 2002 | Acquired an additional 20% stake in Sava Tires, a joint venture tire manufacturing company in Kranj, Slovenia, for approximately USD 38.5 million. |
Mar. 2003 | Signed a five-year agreement with TRW Automotive to jointly study tires, braking, suspension and steering systems to accelerate product development . |
Apr. 2003 | Sold 20,833,000 shares in Sumitomo Rubber and allowed Sumitomo Rubber Industries to acquire them as a repurchase. |
2003 | Purchased Arkansas Best Corporation's remaining 19% ownership interest in Wingfoot Commercial Tire Systems, LLC, a joint venture company formed by Goodyear and Arkansas Best Corporation to sell and service commercial truck tires. |
Jun. 2004 | Completed acquisition of the remainder of Sava Tires d.o.o., a tire manufacturing company in Kranj, Slovenia, for USD 52 million. |
Nov. 2004 | Announced an agreement in principle to sell 95% stake in Goodyear Sumatra Plantations (GSP) to Bridgestone Corporation. |
Sep. 2005 | Completed sale of Wingtack adhesives resins business to Sartomer Company Inc., a unit of the French energy firm Total S.A. |
Dec. 2005 | Completed sale of North America farm tire assets to Titan Tire Corporation, a subsidiary of Titan International, Inc. |
Jan. 2006 | Acquired Ansell Limited's interest in South Pacific tyres (SPT), joint venture in both Australia and New Zealand. |
Sep. 2006 | Agreed to sell its global tire fabric operations to Hyosung Corporation, pending government and regulatory approvals. |
Mar. 2007 | Announced agreement to sell substantially all of its Engineered Products business to EPD, Inc., an entity sponsored by Carlyle Partners IV, LP. |
Oct. 2008 | Acquired the remaining 25% ownership interest in Goodyear Dalian Tire Company Ltd., its tire manufacturing and distribution subsidiary in China. |
Sep. 2009 | Commenced tender offer to acquire any and all outstanding shares of Polish tire company TC Debica. |
Jun. 2011 | Agreed to sell its wire business to Korea-based Hyosung Corporation which produces tire reinforcements |
Jul. 2011 | Closed its tire manufacturing facility in Union City, Tennessee, U.S. |
2014 | Closed its manufacturing facilities in Amiens, France |
Jun. 2015 | Announced to dissolve the alliance agreement and joint ventures with Sumitomo Rubber Industries. |
Oct. 2015 | Dissolved the alliance agreement and joint ventures with Sumitomo Rubber Industries. |
Jun. 2021 | Completed the acquisition of Cooper Tire & Rubber Company |
Supplemental Information 1
>>>Business Report FY ended Dec. 31, 2006
>>>Business Report FY ended Dec. 31, 2007
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>>>Business Report FY ended Dec. 31, 2020
>>>Business Report FY ended Dec. 31, 2021
>>>Business Report FY ended Dec. 31, 2022
Note: A figure in brackets ( ) indicates a loss