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At a Glance

Uppers

Good pay & benefits

Factories located in areas with lower cost of living

Job security

Downers

Long hours

Rigid corporate structure

Difficult to stand out in a company with 72,000 employees

The Bottom Line

With 72,000 employees working at 56 plants in 22 countries, opinions about life at Goodyear run the gamut. But the company's reputation and salaries ensure that it will continue to attract high quality candidates.

About The Goodyear Tire & Rubber Company

Goodyear Tire & Rubber sells mainly new tires under the Goodyear, Dunlop, Kelly, Fulda, Debica, and Sava brand names. The company manufactures and sells its tires across the Americas, Europe, Middle East & Africa (EMEA), and the Asia Pacific region, including Australia and New Zealand. Goodyear also makes and markets rubber-related chemicals for various applications. It operates approximately 1,100 tire and auto service centers where it offers its products for retail sale and provides automotive repair and other services. Goodyear has marketing operations in almost every country in the world, although the US generates about 45% of its revenue.

Operations

Goodyear operates across three main geographic segments: the Americas; EMEA; and Asia Pacific. The Americas accounts for about 55% of sales and operates six manufacturing plants in the US, two in Canada, and five Latin American plants in Brazil, Chile, Colombia, Peru, and Mexico. This segment provides commercial truck tires, retreads for trucks, aircraft, and off-road vehicles, and chemical and natural rubber products. It offers online installation services, fleet tire maintenance, and mechanical services. Goodyear also provides automotive repair and maintenance items, equipment, and accessories through approximately 570 locations that operate under the Goodyear and Just Tires banners.

The EMEA segment (more than 30% of sales) operates 13 tire plants in France, Germany, Luxembourg, Poland, Slovenia, South Africa, and Turkey. The EMEA segment sells aviation tires and retreads, provides retreading and related services for truck and off-the-road (OTR) tires, and offers automotive repair services at company-owned retail outlets. Besides serving the region's auto, truck, and farm and construction equipment manufacturers, its plants export tires to North America and other regions.

The Asia Pacific segment (about 15% of sales) makes tires via seven plants in China, India, Indonesia, Japan, Malaysia, and Thailand. It sells tires under the Goodyear brand throughout the region, as well as the Dunlop brand in Australia and New Zealand. This segment has around 200 retail outlets in Australia that operate under the Beaurepaires brand.

Geographic Reach

Goodyear boasts more than 45 manufacturing facilities across 20-plus countries, as well as around 1,100 tire and auto repair centers. The US and Germany are its largest markets; the US generates about 45% of sales and Germany more than 10%. Other international countries collectively make up the remaining 45% of sales.

Sales and Marketing

In the Americas, Goodyear sells tires under the Goodyear, Dunlop, and Kelly brand names through several channels. Wholesale sales are handled through TireHub, its sole national wholesale tire distributor in the US, and a network of regional wholesale distributors. Retail sales are through independent dealers, national and regional retailers, and company-owned stores in the US.

Goodyear and Dunlop brand tires are sold for replacement in EMEA mainly through independent multi-brand tire dealers. In some areas, other brands such as Debica, Sava and Fulda are distributed through independent dealers, regional distributors and retail outlets. In Asia Pacific, tires are sold through licensed and franchised retail stores and multi-brand retailers.

The company also sells to original equipment manufacturers, which account for roughly 20% of sales.

 

Financial Performance

Goodyear's revenue is slowly recovering after a downward spiral in 2015 and 2016. Sales in 2018 are still well below previous years' figures.

Revenue in 2018 inched up to $15.5 billion, a 1% increase from $15.4 billion in 2017. The growth is attributed to an increase in price and product mix and higher volumes of replacement tires, partially offset by unfavorable currency translation, particular in the Americas.

Net income almost doubled in 2018 to $693 million compared with $346 million the previous year. The 2018 profit represents a net gain from the TireHub joint venture with Bridgestone and a lower income tax expense. These increases were partially offset by lower operating income in the Americas and Asia Pacific.

Cash at the end of fiscal 2018 was $873 million, a decrease of $237 million from the prior year. Cash from operations contributed $916 million to the coffers, while investing activities used $867 million, mainly for capital expenditures related to new construction, expansion, and upgrades for manufacturing facilities in the US, China, India, and Thailand. Financing activities used another $243 million for dividends to stockholders and the company's stock repurchase program.

Strategy

Goodyear is coming up with innovative ways to sell and distribute its products. The company in 2018 formed a 50/50 joint venture with Bridgestone called TireHub, a new national wholesale tire distributor in the US.

Goodyear was the first tire manufacturer to sell directly to consumers online in the US and is a leader in this category. Its new Roll By Goodyear showroom-type format (deployed in high-traffic, high-end retail areas) was launched in 2018 and offers alternatives to having tires installed at a traditional tire retail location. Customers purchase tires online and can either drop off their keys at a Roll By Goodyear location, have their vehicles picked up and dropped off, or schedule a mobile installation. Goodyear Mobile Install meets customers where they are and tires are installed via a mobile installation van. Currently available only lin select markets, Goodyear plans to continue rolling out this service in more locations.

Mergers and Acquisitions

In late 2017, Goodyear acquired Ventech Systems and its automated tire inspection system that easily checks tire pressure, tread depth and vehicle weight for buses, trucks, cars and other vehicles. The company plans to use the technology to support its fleet services in Europe and other geographies. The acquisition strengthens Goodyear’s one-stop value proposition for fleets, including premium tires, advanced technology, and service packages.

The Goodyear Tire & Rubber Company

200 INNOVATION WAY
Akron, OH 44316-0001
Phone: 1 (330) 796-2121

Stats

Employer Type: Publicly Owned
Stock Symbol: GT
Stock Exchange: , NASDAQ
Chairman, President, and CEO: Richard J. Kramer
EVP and CFO: Laura K. Thompson
SVP, Global Operations and Technology: Joseph Zekoski
Employees (This Location): 3,000
Employees (All Locations): 64,000

Major Office Locations

Akron, OH

Other Locations

Anchorage, AK
Fairbanks, AK
Alexander City, AL
Birmingham, AL
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Gadsden, AL
Huntsville, AL
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