The Goodyear Tire & Rubber Company
-The Company is one of the world's leading manufacturers of tires and rubber products.
-The Company manufactures and sells tires under the Goodyear, Dunlop, Kelly, Debica, Sava, and Fulda brands, various other Goodyear-owned house brands, and the private-label brands of certain customers.
-As of December 31, 2016, the Company has three operating segments representing its regional tire businesses: Americas; Europe, Middle East, and Africa (EMEA); and Asia Pacific. Effective January 1, 2016, the Company combined its North America and Latin America segments into a single Americas business unit.
-Over the last five years, the percentage of the Company's tire sales coming from the Asia Pacific region has steadily grown. In the fiscal year ended December 31, 2016, the Asia Pacific region sold 18.6% of the Company's tires, up from 11.4% in 2011. In addition, the Asia Pacific segment is the Company's only segment that has had a positive percentage point change in sales share each of the last five years. The increased percentage of sales from the region reflects growth, specifically in China and India and represents a possible avenue for the Company to further improve its sales. In the fiscal year ended December 31, 2016, the volume increase by 3.2 million units (1.9% of total sales) due to to the acquisition of a controlling interest in NGY in Japan is included.
-On October 1, 2015, the Company and Sumitomo Rubber Industries, Ltd. dissolved their global alliance as agreed upon on June 4, 2015.
>>>Global Alliance with Sumitomo Rubber Industries
-Listed on NASDAQ Stock Exchange.
-Run on flat tires
-Sport performance tires
Rubber-related chemicals for various applications
|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.|
Supplemental Information 1
Global Alliance with Sumitomo Rubber Industries
-Since the global alliance was signed in 1999, the two companies have worked together to manufacture and sell their tires in the U.S. and Europe and to operate sales joint ventures in Japan. Accordingly, the Goodyear and Dunlop brand tires are manufactured and sold by the Company in the North American and European markets, while being manufactured and sold by Sumitomo Rubber Industries, Ltd. ("SRI") in the Asian market.
-Goodyear owns 75% and SRI owns 25% of two companies, Goodyear Dunlop Tires Europe B.V. ("GDTE") and Goodyear Dunlop Tires North America, Ltd. ("GDTNA"). GDTE owns and operates substantially all of the Company's tire businesses in Western Europe. GDTNA owns the Dunlop brand and operates certain related businesses in North America.
-In Japan, Goodyear owns 25%, and SRI owns 75%, of two companies, one for the sale of Goodyear brand passenger and truck tires for replacement in Japan and the other for the sale of Goodyear brand and Dunlop brand tires to vehicle manufacturers in Japan.
-In February 2014, The Goodyear Tire & Rubber Company has offered SRI to dissolve their business partnership.
-The Company and SRI executed an agreement to dissolve the alliance agreement and joint ventures on June 4, 2015. SRI will acquire the Dunlop trademark license of original-equipment tires for Japanese automakers in North America, and the exclusive usage of the Dunlop trademark for other 33 countries including Russia, Middle East and African countries. Goodyear will obtain the ownership of the Dunlop trademark license in Europe and for replacement tires in North America. SRI will purchase the tire plant in North America, and Goodyear will purchase the tire plant in Europe. Their joint ventures established for procurement and technology development will be dissolved.
-On October 1, 2015, the Company and Sumitomo Rubber Industries, Ltd. dissolved the alliance agreement and associated joint ventures.
>>>Business Report FY ended Dec. 31, 2006
>>>Business Report FY ended Dec. 31, 2007
>>>Business Report FY ended Dec. 31, 2008
>>>Business Report FY ended Dec. 31, 2009
>>>Business Report FY ended Dec. 31, 2010
>>>Business Report FY ended Dec. 31, 2011
>>>Business Report FY ended Dec. 31, 2012
>>>Business Report FY ended Dec. 31, 2013
>>>Business Report FY ended Dec. 31, 2014
>>>Business Report FY ended Dec. 31, 2015
Note: A figure in brackets ( ) indicates a loss