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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
North American Crane Bureau Group (NACB), a subsidiary of ProBility Media Corp (OTCPK: PBYA), has announced an extension of its relationship with Goodyear Tire & Rubber Company (NASDAQ: GT) to offer additional training programs into 2022. The training includes rigging and signaling programs to qualify Goodyear's personnel and crane training programs compliant with OSHA requirements. Additionally, NACB is initiating a new training relationship with L'Air Liquide S.A. in New Jersey. The completion of ProBility's acquisition of Upstryve Inc. is expected by August 31, 2021.
The Goodyear Tire & Rubber Company (NASDAQ: GT) announced a strategic collaboration with Plus, a leader in self-driving truck technology, aimed at enhancing autonomous trucking solutions in logistics. This partnership focuses on integrating Goodyear's connected tires with Plus's Level 4 autonomous driving technology to improve transport efficiency and safety while reducing carbon impact. Expected developments include incorporating tire feedback into fuel economy systems and improving performance in adverse conditions. Plus plans to begin production of the FAW J7 L3 truck powered by PlusDrive in Q3 2021.
The Goodyear Tire & Rubber Company (NASDAQ: GT) announced the appointment of Thad Ewald as vice president of Strategy and Business Development, effective August 23, 2021. Ewald, who previously served as vice president at Cummins, Inc., will report to CFO Darren Wells. His extensive experience in strategy development, including leading initiatives in electrification and hydrogen power, is expected to support Goodyear's growth in both traditional and emerging markets, enhancing its long-term strategic direction.
Goodyear (NASDAQ: GT) announced an investment in AmpUp, a leader in electric vehicle (EV) charging solutions, through its venture capital arm, Goodyear Ventures. This partnership aims to enhance Goodyear's insights into electrification trends, facilitating better services for fleet customers considering EVs. AmpUp provides advanced charging networks and software, operating across North America, and aims to improve accessibility for EV drivers. This investment aligns with Goodyear's commitment to innovation in mobility and supports the wider adoption of electric vehicles.
AmpUp, an electric vehicle charging provider, has secured additional funding from investment firms including Goodyear (GT) and Foothill Ventures. The capital aims to enhance AmpUp's operational capabilities to meet growing demand for charging solutions. CEO Thomas Sun highlighted the company's mission to expand accessibility to charging stations in North America. Noteworthy achievements include a project of 160 charging stations in Los Angeles and collaborations with major utilities. Past investors also include YCombinator and iSun Inc. (ISUN).
Goodyear Tire & Rubber Company (NASDAQ: GT) reported strong second quarter results with sales of $4.0 billion, up 86% year-over-year, driven by higher volumes and the recent Cooper Tire merger. Net income reached $67 million (27 cents per share), a significant recovery from a $696 million loss last year. The merger-adjusted segment operating income was $349 million, facilitated by improved price/mix and increased factory utilization. Tire unit volumes rose to 37.5 million, with a notable increase in both replacement and original equipment segments, reflecting a robust recovery in demand.
The Goodyear Tire & Rubber Company has launched a new tire size, 40.00R57, within its RH-4A+ tire lineup, designed for improved productivity and lower operating costs in tough conditions. The new tire features a high net-to-gross tread pattern and deep tread depth, ensuring extended usage and optimal performance. Goodyear's RH-4A+ is becoming the preferred option for 200-ton trucks, enhancing load capacity. The new size joins the existing options, available globally through authorized dealers.
The Goodyear Tire & Rubber Company's blimp, Wingfoot Three, will serve as a skydiving platform for the Red Bull Air Force and U.S. Special Operations Command at EAA AirVenture Oshkosh, taking place on July 28 and July 30, 2021. This marks the inaugural jumps from the blimp for both teams. Goodyear's participation celebrates its 50th anniversary at this premier aviation event, which has grown to be the largest airshow in the world since its first blimp appearance in 1971.
Goodyear Tire & Rubber Company (NASDAQ: GT) is set to announce its second quarter 2021 financial results on August 6, 2021, at 9:30 a.m. EDT. Following the announcement, an investor conference call will provide insights into the financial performance and strategic direction of the company. Information related to the financial results will be made available on the investor relations website. Goodyear, one of the world's largest tire manufacturers, employs around 72,000 people across 54 facilities globally.
Goodyear (NASDAQ: GT) has introduced a groundbreaking non-pneumatic tire (NPT) and wheel assembly for autonomous vehicles in collaboration with the Jacksonville Transportation Authority (JTA). After three years of testing with Local Motors, the NPT aims to enhance urban transport with sustainability and maintenance-free features. The JTA will assess ride comfort and noise as part of its Autonomous Vehicle Test program. Goodyear anticipates that these airless tires could revolutionize mobility, with plans to provide fully sustainable tires by the decade's end.
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