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Goodyear Tire & Rubber Company (NASDAQ: GT) stands as one of the world's largest tire manufacturers, renowned for its innovation and tire technology. With its headquarters in Akron, Ohio, USA, Goodyear operates 50 plants in 22 countries, affirming its global footprint. The company's extensive product lineup includes tires for automobiles, trucks, buses, aircraft, motorcycles, mining equipment, farm equipment, and industrial machinery.
Founded in 1898, Goodyear has sustained a legacy of excellence in tire manufacturing. Its operations are divided into three primary segments: Americas; Europe, the Middle East, and Africa (EMEA); and the Asia Pacific. Each segment caters to the specific needs of its regional markets, ensuring high standards of performance and safety.
Recent achievements spotlight Goodyear's commitment to innovation. The company, in collaboration with ZF, a global leader in vehicle systems, successfully integrated Goodyear SightLine—a suite of tire intelligence technologies—with ZF's cubiX® vehicle motion control software. This synergy enhances driving dynamics and safety by providing real-time tire and road data to the vehicle’s chassis system.
Goodyear’s dedication to product quality is further exemplified by the launch of the GP-3E tire line, designed for off-the-road (OTR) applications. This versatile tire offers enhanced treadwear and traction, tailored to meet the demanding conditions of construction and material handling jobs.
Financially, Goodyear reported a net loss of $57 million in the first quarter of 2024, an improvement from the previous year. The company's
Goodyear Tire & Rubber Company (NASDAQ: GT) launched its new RT-3B bead-to-bead retread, designed for loaders and graders, enhancing its off-the-road (OTR) tire portfolio. The RT-3B provides significant cost savings of up to 60% compared to new tires, while promoting sustainability by reducing waste. Available in two sizes, 20.5R25 and 23.5R25, the retread features low heat generation, cut-resistance, and extended tire life. Goodyear, with decades of experience in retreading, aims to drive efficiency and lower ownership costs for its OTR customers.
The Goodyear Tire & Rubber Company (NASDAQ: GT) is inviting nominations for its 2020-2021 Highway Hero Award, honoring professional truck drivers who have selflessly acted for others on highways in North America. Nominations are open until Dec. 31, 2021, with winners announced in early 2022. The award, established decades ago, recognizes truck drivers' crucial roles in the trucking industry and highlights acts of heroism. Eligible nominees must reside in the U.S. or Canada and meet specific criteria. For more details, visit GoodyearTruckTires.com.
Cooper Tire has launched the Roadmaster RM832+ EM™, a SmartWay Verified steer tire designed for commercial long-haul use. It features an 18/32nds tread depth and a wide footprint for improved weight distribution and treadwear. The tire incorporates a patent-pending decoupling rib for durability and fuel efficiency, bolstered by Energy Max compounding that meets U.S. greenhouse gas standards. Available in seven sizes starting October 4, 2021, it also offers a six-year, two-retread warranty.
Goodyear (NASDAQ: GT) and Gatik announced a multi-year collaboration aimed at enhancing mobility solutions for the autonomous B2B short-haul logistics sector. This partnership seeks to improve safety and sustainability in goods movement while reducing costs for Gatik's customers. Goodyear Ventures participated in Gatik's Series B funding, enabling joint projects utilizing Goodyear SightLine technology, which monitors tire performance in real-time. This collaboration is expected to enhance operational efficiencies and safety for Gatik's expanding fleet across North America.
The Goodyear Tire & Rubber Company (NASDAQ: GT) announced the adoption of 100% renewable energy at its plants in Europe and Turkey by 2022. This initiative is part of a broader climate strategy aiming to cut carbon emissions intensity by 25% from 2010 levels by 2023. With the purchase of approximately 700,000 megawatt-hours of renewable electricity, Goodyear expects to reduce its carbon footprint by up to 260,000 tons. The first phase includes plants in France, Germany, Luxembourg, Poland, Slovenia, Turkey, and the Netherlands.
The Goodyear Tire & Rubber Company (NASDAQ: GT) announced the pricing of a €400 million private offering of senior notes due 2028 by its European subsidiary, Goodyear Europe B.V. The notes, which will bear an interest rate of 2.750% per annum, are set to close on September 28, 2021. The proceeds will be utilized to redeem existing 3.75% Senior Notes due 2023 and for general corporate purposes. The offering is aimed at qualified institutional buyers outside the U.S., complying with relevant securities laws.
Goodyear (NASDAQ: GT) announced a private offering of €300 million in senior notes due 2028 through its European subsidiary, Goodyear Europe B.V. The notes, guaranteed by Goodyear and its U.S. and Canadian subsidiaries, aim to redeem existing 3.75% Senior Notes due 2023 and fund general corporate purposes. The offering is restricted to qualified institutional buyers and is not available to retail investors in the UK and EEA. The issuance is subject to typical market conditions.
On September 14, 2021, Goodyear Tire & Rubber Company (NASDAQ: GT) announced customized leasing options for Goodyear CheckPoint, an innovative drive-over-reader device that inspects tire pressure and tread depth, aimed at enhancing tire management for fleet operators. This initiative is designed to increase accessibility for national account fleets in the U.S. and Canada. Goodyear CheckPoint has already inspected over 1.5 million tires in North America this year, flagging 126,000 potential issues, significantly improving efficiency and reducing labor time by 90% for tire inspections.
The Goodyear Tire & Rubber Company (NASDAQ: GT) announced it will webcast its presentation at the Morgan Stanley Laguna Investor Conference on Sept. 15, 2021. The session, led by CFO Darren R. Wells, will provide a business overview, starting at 9 a.m. EDT. Investors can access the live webcast on Goodyear's investor relations website, with a replay available afterward. Goodyear, a leading tire manufacturer, operates 55 facilities in 23 countries and employs around 72,000 people, focusing on innovative products and services.
Cooper Tire has introduced its new Endeavor™ and Endeavor Plus™ tires, designed for cars, SUVs, and trucks, now available at select dealers. These tires feature a 65,000-mile warranty, promising reliable performance in various weather conditions. Consumer research guided their development, ensuring an emphasis on wet performance and treadwear. Key features include the Wear Square® indicator for tread life visibility and enhanced handling. Customers can also enjoy a 45-day test drive with their purchase, emphasizing Cooper Tire's commitment to safety and comfort.
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