Goodyear Tire & Rubber - GT STOCK NEWS

Goodyear and Darlington Raceway have partnered to name the spring NASCAR Cup Series race the Goodyear 400, part of NASCAR's Official Throwback Weekend on May 9. This event features a vintage “Blue Streak” sidewall tire design symbolizing the rich history of NASCAR. Goodyear, the longest-running continuous partner in NASCAR, has been integral to the sport since 1954. This marks Goodyear's first race entitlement in North America, enhancing its longstanding relationship with NASCAR and celebrating over six decades of motorsport history.

The Goodyear Tire & Rubber Company (NASDAQ: GT) held its virtual annual shareholder meeting on April 12, 2021, where 13 members were elected to the Board of Directors for one-year terms. Shareholders approved an advisory resolution on executive compensation and ratified PricewaterhouseCoopers LLP as the independent public accounting firm for 2021. However, a shareholder proposal was not approved. Goodyear operates in 21 countries, employing approximately 62,000 people, and focuses on innovation through its centers in Akron, Ohio, and Luxembourg.

The Goodyear Tire & Rubber Company (NASDAQ: GT) has priced its public offering of $1 billion in senior notes, including $550 million due 2031 at 5.250% and $450 million due 2033 at 5.625%. The offering is set to close on April 6, 2021, pending customary conditions. Proceeds will be used to redeem $1 billion in senior notes due 2023. The notes will be senior unsecured obligations and are part of an effective registration statement filed with the SEC. The company, employing around 62,000 people, operates globally with 46 facilities in 21 countries.

The Goodyear Tire & Rubber Company (NASDAQ: GT) has announced a public offering of $1 billion in senior notes with maturities of 10 and 12 years. The offering aims to refinance existing $1 billion 5.125% senior notes due 2023.

The proceeds will be used for full redemption at par value plus interest. The offering is subject to market conditions and will be conducted under an effective shelf registration statement.

Goodyear has launched the new EV-4M Port Handler tire, designed for improved tread wear and enhanced driver comfort in port and industrial handling operations. This model features advanced radial construction, promoting durability and reduced heat generation for long-lasting performance. The EV-4M supports high operating speeds with its increased TKPH/TMPH rating and offers superior traction and stability in all weather conditions. Available in size 450/95R25, it is suitable for various applications including straddle carriers.

On March 23, 2021, Goodyear (NASDAQ: GT) hosted the fifth annual Innovation Challenge, featuring a record number of student proposals aimed at solving current mobility challenges. This year, the competition was held virtually for the first time, allowing master's students across the U.S. to create innovative solutions post-pandemic. The first-place prize of $5,000 was awarded to a team from Santa Clara University for their technician entrepreneurship program. Other notable proposals included a gamified app for Gen Z vehicle maintenance and fleet management solutions.

The Goodyear Tire & Rubber Company (NASDAQ: GT) announced a strategic partnership with UFODRIVE, an all-digital, all-electric car rental service, aimed at enhancing electric vehicle fleet performance. The collaboration will integrate Goodyear's intelligent tire monitoring systems with UFODRIVE's eMobility software, focusing on vehicle utilization, servicing optimization, and minimizing carbon impact. Goodyear's president of consumer business in Europe highlighted the opportunity to expand their Total Mobility fleet solutions into the growing electric vehicle sector as demand for shared mobility services rises.

Goodyear Tire & Rubber Company (NASDAQ: GT) reported that its Complete Tire Management tools inspected nearly 4 million tires in one year, aiding fleets in identifying potential tire issues. The program, relaunched at the North America Customer Conference in February 2020, includes Goodyear Tire Optix, TPMS Plus, and CheckPoint, which monitor tire condition to prevent breakdowns. The initiative identified nearly 400,000 potential tire issues, saving fleets time and money during the ongoing COVID-19 pandemic.

Goodyear Tire & Rubber Company (NASDAQ: GT) announced a new sustainable soybean oil procurement policy on March 18, 2021, aimed at responsible sourcing and environmental sustainability. The policy emphasizes human rights, responsible land use, and environmentally friendly soybean processing. Goodyear's use of soybean oil surged 73% in 2020 compared to 2019, moving towards a goal of full petroleum oil replacement by 2040. The initiative aligns with Goodyear’s commitment to increased sustainable materials across its product lines, enhancing vehicle performance with innovative tire technologies.