Go Back   ManagementParadise.com Discussion Forums Mirror View - Ebooks Links & Miscellenous Reading Material > Company Profiles & News !!

Company Profile of Goodyear Tire and Rubber Company

Discuss Company Profile of Goodyear Tire and Rubber Company within the Company Profiles & News !! forums, part of the Mirror View - Ebooks Links & Miscellenous Reading Material category; The Goodyear Tire & Rubber Company was founded in 1898 by Frank Seiberling. Goodyear manufactures tires for automobiles, commercial trucks, ...



Thread Tools Display Modes
Company Profile of Goodyear Tire and Rubber Company
 (1 (permalink))
Pratik Kukreja
pratikkk is on a distinguished road
Jamshedpur, Jharkhand
Management Paradise Member
Status: Offline
Posts: 1,221
Join Date: Mar 2011
Location: Jamshedpur, Jharkhand
Company Profile of Goodyear Tire and Rubber Company - May 7th, 2011

The Goodyear Tire & Rubber Company was founded in 1898 by Frank Seiberling. Goodyear manufactures tires for automobiles, commercial trucks, light trucks, SUVs, race cars, airplanes, and heavy earth-mover machinery.
Although the company was not connected with him, it was named in honor of Charles Goodyear of Springfield, Massachusetts. Goodyear invented vulcanized rubber in 1839. The first Goodyear Tires became popular because they were easily detachable and low maintenance.
Goodyear is very famous throughout the world because of the Goodyear Blimp. The first Goodyear blimp flew in 1925. Today it is one of the most recognizable advertising icons in America. The company is the most successful tire supplier in Formula One history, with more starts, wins, and constructors' championships than any other tire supplier. They pulled out of the sport after the 1998 season.
Goodyear is a former component of the Dow Jones Industrial Average.

The Goodyear Tire & Rubber Company (Goodyear) is a manufacturer of tires. The Company, along with its subsidiaries, is principally engaged in the development, manufacture, distribution and sale of tires and related products and services worldwide. Goodyear also manufactures and markets rubber-related chemicals for range of applications. The Company is an operator of commercial truck service and tire retreading centers. As of December 31, 2010, Goodyear operated approximately 1,500 tire and auto service center outlets where the Company offered its products for retail sale and provided automotive repair and other services. Goodyear manufactures its products in 56 manufacturing facilities in 22 countries, including the United States. Goodyear operates through four operating segments: North American Tire; Europe, Middle East and Africa Tire (EMEA); Latin American Tire, and Asia Pacific Tire.
Goodyear manufactures and markets range of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment and industrial equipment. The Company manufactures and sells tires under the Goodyear, Dunlop, Kelly, Fulda, Debica and Sava brands and various other Goodyear-owned house brands, and the private-label brands of certain customers. In certain geographic areas the Company also manufactures and sells tread rubber and other tire retreading materials; provides automotive repair services and miscellaneous other products and services, and manufactures and sells flaps for truck tires and other types of tires.
North American Tire
North American Tire segment develops, manufactures, distributes and sells tires and related products and services in the United States and Canada. North American Tire manufactures tires in eight plants in the United States and two plants in Canada. North American Tire manufactures and sells tires for automobiles, trucks, motorcycles, buses, earthmoving and mining equipment, commercial and military aviation and industrial equipment.
Goodyear brand radial passenger tire lines sold in the United States and Canada include Assurance Fuel Max, Assurance TripleTred and its Assurance ComforTred Touring for the passenger tire market; while its Eagle family of product lines is available for the high-performance market and includes RunOnFlat extended mobility technology (ROF or EMT) tires. The major lines of Goodyear brand radial tires offered in the United States and Canada for sport utility vehicles and light trucks include Wrangler, featuring technologies, including MT/R with Kevlar, SilentArmor and DuraTrac, and Fortera, featuring TripleTred Technology. Goodyear also offers Dunlop brand radial passenger tire lines, including Signature and SP Sport, and Fierce performance tires, as well as Dunlop brand radials for light trucks, including the Rover and Grandtrek lines. Additionally, North American Tire manufactures and sells several lines of Kelly brand tires, as well as private brand radial passenger and light truck tires in the United States and Canada.
North American Tire manufactures and sells steel, radial medium truck tires under the Goodyear, Dunlop and Kelly brands, for use on commercial trucks and trailers. It also retreads truck, aviation and off-the-road (OTR) tires, primarily as a service to its commercial customers; manufactures tread rubber and other tire retreading materials for trucks, heavy equipment and aviation; provides automotive maintenance and repair services at approximately 680 retail outlets primarily under the Goodyear or Just Tires names; provides trucking fleets with new tires, retreads, mechanical service, preventative maintenance and roadside assistance from approximately 170 Wingfoot Commercial Centers; sells automotive repair and maintenance items, automotive equipment and accessories and other items to dealers and consumers; sells chemical and natural rubber products to Goodyear’s other business segments and to unaffiliated customers, and provides miscellaneous other products and services.
The Company competes with Bridgestone, Michelin, Continental and Cooper.
Europe, Middle East and Africa Tire
Europe, Middle East and Africa Tire (EMEA) segment develops, manufactures, distributes and sells tires for automobiles, trucks, motorcycles, farm implements and construction equipment throughout Europe, the Middle East and Africa, exports tires to other regions of the world and provides miscellaneous other products and services. EMEA manufactures tires in 16 plants in England, France, Germany, Luxembourg, Poland, Slovenia, South Africa and Turkey. EMEA manufactures and sells Goodyear, Dunlop, Debica, Sava and Fulda brands and other house brand passenger, truck, motorcycle, farm and OTR tires; sells new aviation tires, and manufactures and sells retreaded aviation tires; exports tires for sale in North America and other regions of the world; provides various retreading and related services for truck and OTR tires, primarily for its commercial truck tire customers; offers automotive repair services at retail outlets, and provides miscellaneous other products and services.
The Company competes with Michelin, Bridgestone, Continental and Pirelli.
Latin American Tire
Latin American Tire segment manufactures and sells automobile, truck and farm tires throughout Central and South America and in Mexico, sells tires to various export markets, retreads and sells commercial truck, aviation and OTR tires, and provides other products and services. Latin American Tire manufactures tires in six plants in Brazil, Chile, Colombia, Peru and Venezuela.
Latin American Tire manufactures and sells range of passenger, light and medium truck and farm tires. Latin American Tire also manufactures and sells pre-cured treads for truck tires; retreads, and provides various materials and related services for retreading, truck and aviation tires;
manufactures other products, including OTR tires; manufactures and sells aviation tires, and provides miscellaneous other products and services. Latin American Tire is a supplier of tires to manufacturers of automobiles, trucks and farm and construction equipment. Goodyear brand tires are sold for replacement primarily through independent dealers.
The Company competes with Pirelli, Bridgestone, Michelin and Continental.
Asia Pacific Tire
Asia Pacific Tire segment manufactures and sells tires for automobiles, light and medium trucks, farm, construction and mining equipment and the aviation industry throughout the Asia Pacific region. Asia Pacific Tire manufactures tires in seven plants in China, India, Indonesia, Japan, Malaysia and Thailand. Asia Pacific Tire also retreads truck tires and aviation tires; manufactures tread rubber and other tire retreading materials for truck and aviation tires; provides automotive maintenance and repair services at retail outlets, and provides miscellaneous other products and services.
Asia Pacific Tire sells primarily Goodyear brand tires throughout the region and also sells the Dunlop brand in Australia and New Zealand. In Australia and New Zealand, it also operates a network of approximately 400 retail stores under the Beaurepaires and Frank Allen brands.
The Company competes with Bridgestone, Michelin, Continental, Dunlop, Yokohama and Pirelli.

In 1990 Goodyear took its first loss since 1932 and surrendered its position as the world's largest tire maker to Michelin, when the French company bought out Goodrich's tire business, which had been merged with Uniroyal's. Firestone and General, weakened by Goodyear's dominance in the radial market, were absorbed, respectively, by Japan's Bridgestone and Germany's Continental, forcing upon Goodyear competition of its own size. Its All-American Pipeline, prevented from operating at full capacity by environmental restrictions, continued to produce losses; the company's $3.3 billion long-term debt, largely incurred by the Goldsmith battle, was also a weakness. Analysts pointed to Goodyear's sluggish internal efficiency as a major problem. For the first time since 1921, Goodyear went outside company ranks to choose a chairman and chief executive officer, as Stanley C. Gault succeeded Barrett in June 1991. Gault had been chairman and chief executive of Rubbermaid, Incorporated, while serving on Goodyear's board.
Between 1989 and 1991, Goodyear eliminated 12,000 jobs, or ten percent of its work force, with more than one-half of that coming from the salaried sector. In combination with the $1.4 billion investment in modernization and consolidation of factories, these cuts added up to an estimated savings of $250 million annually. Yet Goodyear remained committed to its annual research and development budget of more than $300 million a year, confident in this as a source of quality tires, such as 1990's Eagle GA and Eagle GT+4, successful luxury car models. By restructuring its U.S. marketing tactics, the company regained its lost market share and was holding its own in the tougher international market. Goodyear was also able by 1992 to reduce its long-term debt to a much healthier $1.47 billion.
More important, however, were the new tires rolling out of the company's research and development department. In 1991 alone four new Goodyear tires for the replacement market were introduced, the flagship of which was the Aquatread, an all-season passenger tire specially designed to provide better traction on rain-slickened roads. The tire proved to be a huge and immediate success. More troubling was Gault's 1992 decision to sell, once again, Goodyear-brand tires at Sears, more than half a century after it had stopped doing so. The following year the company began to sell its name-brand tires through Wal-Mart Stores and the Discount Tire chain. These moves angered Goodyear dealers, especially since some of their new competitors undercut their prices on Goodyear tires.
From 1993 to 1995, Goodyear enjoyed healthy profits, which increased from $387.8 million in 1993 to $567 million in 1994 to $611 million in 1995, and sales that increased from $11.64 billion in 1993 to $12.29 billion in 1994 to $13.17 billion in 1995. Some of this growth was fueled by global expansion through acquisitions and joint ventures. In 1993 the company entered into a joint venture in India with Ceat Ltd. to form South Asia Tyres and build a $150 million tire plant in India. The following year Goodyear purchased a 60 percent stake in Gold Lion, an automotive hose factory based in Qingdao, China, as well as a 75 percent stake in Dalian International Nordic Tire Co. (later known as Goodyear Dalian) based in Dalian, China.
In 1996 the Egyptian-born Samir F. Gibara, who had been president and chief operating officer, replaced Gault as chairman and CEO. That year, Goodyear acquired majority control of TC Debica, the leading passenger tire maker in Poland; the company planned to take advantage of Debica's central location and lower-wage environment as it expanded in Europe. This acquisition also meant that Goodyear now had manufacturing facilities in four of the world's most important developing areas: eastern Europe, India, China, and Latin America. Late in 1996, Goodyear reentered South Africa with the $121 million purchase of 60 percent of Contred Ltd., a unit of Anglovaal Industries Ltd. and a maker of tires, power transmissions, and conveyor belts.
The company's global spending spree continued in 1997. Early that year Goodyear entered into a manufacturing agreement with Sumitomo Rubber Industries Ltd. of Japan, through which the companies would manufacture tires for each other in Asia and North America. Goodyear's presence in eastern Europe was bolstered in May 1997 when Goodyear signed agreements with the Sava Group, based in Kranj, Slovenia, to form two joint ventures through which Goodyear would acquire a 60 percent interest in Sava's tire business and a 75 percent interest in its engineered products business.
Goodyear was not idle at home either. In 1995 the company's retail tire presence was beefed up through the purchase of 860 Penske Auto Centers and more than 300 Montgomery Ward-operated auto centers. The following year Goodyear unveiled the Infinitred, the first passenger tire with a manufacturer's lifetime treadwear limited warranty. In the spring of 1997 Goodyear had to endure its first strike in more than 20 years, when 12,500 United Steelworkers of America members went out on strike. This proved to be a brief setback as a contract agreement (an unusually long six-year contract) was reached after only 18 days of picketing. In June of that year Goodyear's Kelly-Springfield Tire unit entered into a long-term supply agreement with Lincolnton, North Carolina-based J. H. Heafner Co., whereby Kelly-Springfield would make at least one million Winston tires annually to be sold through Heafner's network of tire distributors, one of the country's largest. Goodyear in July 1997 unveiled a line of "run-flat" tires called EMT ("extended mobility tire" or "empty"), which enabled a car to be driven between 50 and 200 miles at speeds up to 55 miles per hour on a deflated--even punctured--tire. Such tires also eliminated the need for a spare tire.
Gibara predicted that, by the early 21st century, 75 percent of Goodyear tires would feature EMT technology. Time would tell on that prediction (the tires' higher price tags could prove to be a major obstacle to widespread acceptance), but the company neared the turn of the century continuing to develop innovative new products and with a much enhanced presence outside North America. Goodyear also appeared ready to divest itself of its noncore Celeron oil pipeline subsidiaries as it took a $572.2 million fourth-quarter 1996 charge, most of which was a write-down of Celeron assets in advance of a sell-off. Divesting of Celeron would likely make a very strong company that much stronger.
Principal Subsidiaries: All American Pipeline Company; Belt Concepts of America, Inc.; Brad Ragan, Inc.; Celeron Corporation; Cosmoflex, Inc.; The Kelly-Springfield Tire Corporation; Goodyear International Corporation; The Goodyear Rubber Plantations Company; Goodyear Western Hemisphere Corporation; Murphy's Inc., Sales and Service; Wingfoot Corporation; Compania Anonima Goodyear de Venezuela; Compania Goodyear del Peru, S.A.; Compania Hulera Goodyear--Oxo, S.A. de C.V. (Mexico); Contred (Proprietary) Limited (South Africa); Corporacion Industriales Mercurio, S.A. de C.V. (Mexico); Deutsche Goodyear Holdings GmbH (Germany); Deutsche Goodyear GmbH (Germany); Goodyear Australia Limited; Goodyear Canada Inc.; Goodyear Chemicals, Europe S.A. (France); Goodyear Dalian Ltd. (China); Goodyear de Chile S.A.I.C.; Goodyear de Colombia S.A.; Goodyear do Brasil Produtos de Borracha Ltda (Brazil); Goodyear Broker's Limited (Bermuda); Goodyear Espanola S.A. (Spain); Goodyear Export, S.A. (Bermuda); Goodyear Export Sales Corporation (Barbados); Goodyear France (Pneumatiques) S.A.; Goodyear Finance Holding S.A. (Luxembourg); Goodyear Great Britain Limited (U.K.); Goodyear Hellas S.A.I.C. (Greece); Goodyear Holding Co. (Venezuela); Goodyear India Limited; Goodyear Italiana S.p.A. (Italy); Goodyear Jamaica Limited; Goodyear Lastikleri Turk Anonim Sirketi (Turkey); Goodyear Malaysia Berhad; Goodyear Maroc S.A. (Morocco); Goodyear (Nederland) B.V. (Netherlands); Goodyear New Zealand, Ltd.; The Goodyear Orient Company Pte Limited (Singapore); Goodyear Portuguesa, Limited (Portugal); Goodyear Philippines Inc.; Goodyear Qingdao Engineered Elastomers Company Ltd. (China); Goodyear S.A. (France); Goodyear S.A. (Luxembourg); Goodyear Singapore Pte Limited; Goodyear South Africa (Proprietary) Limited; Goodyear (Suisse), S.A. (Switzerland); Goodyear Taiwan Limited; Goodyear (Thailand) Limited; Goodyear Zimbabwe (Private) Limited; Gran Industria de Neumaticos Centroamericana, S.A. (Guatemala); Granford Manufacturing, Inc. (Canada); Gummiwerke Fulda GmbH (Germany); Neumaticos Goodyear S.A. (Argentina); Nippon Goodyear Kabushiki Kaisha (Japan); Philippine Rubber Project Company, Inc. (Philippines); P.T. Goodyear Indonesia; P.T. Goodyear Sumatra Plantations (Indonesia); S.A. Goodyear N.V. (Belgium); Svenska Goodyear Aktiebolag (Sweden); TC Debica S.A. (Poland); Tredcor (Proprietary) Limited (South Africa); Wingfoot Insurance Company Limited (Bermuda).

Beta: 2.72
Market Cap (Mil.): $4,262.76
Shares Outstanding (Mil.): 244.14
Annual Dividend: --
Yield (%): --
GT.N Industry Sector
P/E (TTM): -- 6.99 9.28
EPS (TTM): 26.28 -- --
ROI: -0.16 2.20 0.94
ROE: -8.57 3.60 1.62

Public Company
Incorporated: 1898
Employees: 91,310
Sales: $13.11 billion (1996)
Stock Exchanges: New York Midwest Pacific
SICs: 2819 Industrial Inorganic Chemicals, Not Elsewhere Classified; 2821 Plastics Materials, Nonvulcanizable Elastomers & Synthetic Resins; 2822 Synthetic Rubber (Vulcanizable Elastomers); 2891 Adhesives & Sealants; 2899 Chemicals & Chemical Preparations; 3011 Tires & Inner Tubes; 3021 Rubber & Plastics Footwear; 3052 Rubber & Plastics Hose & Belting; 3069 Fabricated Rubber Products, Not Elsewhere Classified; 5531 Auto & Home Supply Stores
Name Age Since Current Position
Kramer, Richard 47 2010 Chairman of the Board, President, Chief Executive Officer
Wells, Darren 45 2008 Chief Financial Officer, Executive Vice President
Cohade, Pierre 49 2004 President, Asia Pacific Tire
de Bok, Arthur 48 2008 President, Europe, Middle East and Africa Tire
Rzonzef, Michel 47 2008 President, Eastern Europe, Middle East and Africa Countries, Europe, Middle East and Africa Tire
McClellan, Stephen 45 2008 President - Consumer Tires, North American Tire
Andersson, Curt 49 2010 President, North American Tire
Szulc, Jaime 48 2010 President, Latin American Tire
Audia, Damon 40 2010 Senior Vice President - Finance, Asia Pacific Region
Kihn, Jean-Claude 51 2008 Senior Vice President, Chief Technical Officer
Bialosky, David 53 2009 Senior Vice President, General Counsel, Secretary
Ruocco, Joseph 51 2008 Senior Vice President - Human Resources
Sinclair, Charles 59 2003 Senior Vice President - Global Communications
Fish, John 53 2009 Senior Vice President - Global Operations
Noechel, Richard 42 2011 Vice President, Controller
Jasinowski, Isabel 61 2001 Vice President - Government Relations
Purtilar, Mark 50 2007 Vice President, Chief Procurement Officer
Boland, James 71 Lead Independent Director
Morrison, Denise 56 2005 Director
Wessel, Michael 51 2005 Director
O'Neal, Rodney 57 2004 Independent Director
Peterson, Shirley 70 2004 Independent Director
Weidemeyer, Thomas 63 2004 Independent Director
Sullivan, G. Craig 70 2006 Independent Director
McCollough, W. Alan 61 2007 Independent Director
Firestone, James 56 2007 Independent Director
Streeter, Stephanie 53 2008 Independent Director
Hellman, Peter 61 2010 Independent Director
Geissler, Werner 57 2011 Independent Director

1144 East Market Street
Akron, Ohio 44316-0001

Friends: (0)
Reply With Quote


advertising strategies, board of directors, branding strategy, business description, business strategy, company brands, company history, company overview, company profile, company strategy, company strengths, compnay growth, financial analysis, goodyear tire, investor relation, key challenges, marketing strategy, rubber company, swot of company
Related to Company Profile of Goodyear Tire and Rubber Company

Similar Threads

Thread Thread Starter Forum Replies Last Post
Marketing Research of Goodyear Tire and Rubber Company Netra Shetty Marketing Research ( MR ) 1 May 21st, 2016 04:28 PM
Organisational Structure of Goodyear Tire and Rubber Company Netra Shetty Human Resources Management (H.R) 1 June 27th, 2015 07:03 PM
Employee Retention of Goodyear Tire and Rubber Company Pratik Kukreja Human Resources Management (H.R) 0 April 12th, 2011 10:10 AM
Financial Analysis of Goodyear Tire and Rubber Company Netra Shetty Financial Management 0 February 11th, 2011 03:52 PM

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are Off

ManagementParadise.com is not responsible for the views and opinion of the posters. The posters and only posters shall be liable for any copyright infringement.

Search Engine Optimization by vBSEO ©2011, Crawlability, Inc.