Goodyear Tire and Rubber Company facts for kids

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The Goodyear Tire & Rubber Company
Logo used since 1968
Goodyear's new headquarters building in Akron, Ohio
Type	Public
Traded as	NASDAQ: GT S&P 400 component
Industry	Manufacturing
Founded	August 29, 1898; 126 years ago (1898-08-29) Akron, Ohio, U.S.
Founder	Frank Seiberling
Headquarters	Akron, Ohio , U.S.
Number of locations	1,240 tire and auto service centers 57 facilities
Area served	Worldwide
Key people	Mark Stewart (Chairman, President, and CEO)
Products	Tires
Revenue	US$12.32 billion (2020)
Operating income	US$-538 Million (2020)
Net income	US$-1.254 billion (2020)
Total assets	US$16.506 billion (2020)
Total equity	US$5.4 billion (2020)
Number of employees	72,000 (2021)
Subsidiaries	List of subsidiaries

The Goodyear Tire & Rubber Company is a big American company that makes tires. Its main office is in Akron, Ohio. Goodyear makes tires for many different vehicles. These include cars, airplanes, trucks, motorcycles, and even race cars! They also make tires for heavy machines used off-road.

Goodyear also lets other companies use its brand name for bicycle tires. They stopped making bicycle tires for a while but started again in 2015. As of 2017, Goodyear is one of the top four tire makers in the world. The other big names are Bridgestone from Japan, Michelin from France, and Continental from Germany.

Frank Seiberling started the company in 1898. He named it after Charles Goodyear (1800–1860). Charles Goodyear was famous for inventing vulcanized rubber. This special rubber is stronger and more useful. The first Goodyear tires were popular because they were easy to take off and didn't need much care.

Goodyear started making airships and balloons in the early 1900s. The first Goodyear advertising blimp flew in 1925. Today, these blimps are very famous advertising symbols in America.

The company is the only tire supplier for NASCAR races. It has also been the most successful tire supplier in Formula One history. Goodyear stopped supplying tires for Formula One after the 1998 season. Goodyear was the first global tire company to open a factory in China in 1994. The company opened a new main office building in Akron in 2013.

History of Goodyear
Goodyear's Structure and Leaders
- Subsidiaries
Goodyear Products
Goodyear Blimp "Spirit of America"
- Retirement and New Blimps
- What the Blimp Achieved
Images for kids
See also

History of Goodyear

Goodyear factory buildings and old former headquarters complex

The original Goodyear headquarters in Akron.

Early Years (1898–1926)

The first Goodyear factory opened in Akron, Ohio, in 1898. At first, the company made bicycle tires, carriage tires, rubber pads for horseshoes, and even poker chips. As cars became popular, Goodyear grew quickly.

In 1901, Goodyear's founder, Frank Seiberling, made racing tires for Henry Ford. In 1903, Paul W. Litchfield, who later became Goodyear's president, got a patent for the first tubeless car tire.

In 1916, Litchfield found land in Arizona to grow a special kind of cotton. This cotton was needed to make tires stronger. This land later became the towns of Goodyear and Litchfield Park.

In 1924, Litchfield worked with a German company called Luftschiffbau Zeppelin. They formed the Goodyear-Zeppelin Corporation. From the late 1920s to 1940, they built two Zeppelins in the United States. This partnership continued until World War II began.

Growing Bigger (1926–1970)

Paul Litchfield, inventor of the tubeless car tire who promoted the Zeppelin partnership and later became Goodyear president and board chairman.

On August 5, 1927, Goodyear started selling its shares to the public. Its shares were listed on the New York Stock Exchange.

By 1930, Goodyear had created special "tundra tires" for small airplanes. These tires were designed to have low air pressure.

Over the next few decades, Goodyear became a huge company around the world. It bought a rival company, Kelly-Springfield Tire, in 1935. During World War II, Goodyear made F4U Corsair fighter planes for the U.S. military. The partnership with Zeppelin ended in December 1940 because of the war. By 1956, Goodyear even owned and ran a nuclear processing plant in Ohio.

In 1944, Goodyear started a company in Mexico with a local partner.

The Radial Tire Change

Goodyear is the only one of the five biggest U.S. tire companies from 1970 that is still independent today. This is partly because of a big change in tire technology: the radial tire. At that time, U.S. tire companies made older "bias-ply" tires. It would cost a lot of money to change factories to make the new radial tires.

However, radial tires were better. In 1968, Consumer Reports, a well-known American magazine, said that radial tires were superior. These tires were first developed by Michelin in 1946.

When Charles J. Pilliod Jr. became CEO in 1974, he had to decide whether to invest in radial tires. Even though many people criticized him, Pilliod invested a lot of money in new factories to build radial tires. Many people believe that without his decision, Goodyear would not exist today.

By 1969, Goodyear's sales reached $3 billion. Five years later, sales were over $5 billion, and Goodyear operated in 34 countries. In 1978, the original factory in Akron became a Technical Center for research and design. By 1985, worldwide sales were more than $10 billion.

Goodyear also had a part of its company called Goodyear Aerospace. This part designed a supercomputer for NASA in 1979. Goodyear sold this part of the company in 1987.

In 1987, Goodyear started a partnership with a Canadian tire seller called Fountain Tire.

Changes in the 1980s

In the 1980s, Goodyear's CEO, Robert E. Mercer, wanted the company to grow in new ways. He thought the tire business was growing too slowly. So, he decided to buy businesses that were not related to tires or cars.

In 1983, Goodyear bought a natural gas company called Celeron Corporation. It also invested a lot in gas exploration. This included building a 1,200-mile oil pipeline from California to Texas. This project cost almost $1 billion.

In 1986, a British investor named James Goldsmith bought a large part of Goodyear's stock. He thought Goodyear should sell its oil businesses. He believed these businesses were making the company less valuable.

Goodyear bought back all of Goldsmith's shares at a higher price. The company also offered to buy back shares from other investors. This led to Goodyear buying back many of its own shares.

Because of this, Goodyear made big changes. It sold its Goodyear Aerospace business and its motor wheel business. It also sold other parts of the company, including the Celeron gas and oil corporation. After 1987, Goodyear focused more on its tire business. The company invested in making its tire factories more modern and bigger.

From 1990 to Today

Airless tire concept

In 1991, Goodyear made more big changes. They hired Stanley Gault to help the company grow into new markets. About 12,000 employees were laid off during this time.

In 2005, another company called Titan Tire bought Goodyear's farm tire business. Titan Tire now makes Goodyear agricultural tires under a special agreement.

In 2009, Goodyear announced it would close its tire factory in the Philippines. This was part of a plan to make its manufacturing more efficient worldwide.

Goodyear also planned to sell its off-road tire business in Latin America to Titan Tire. This deal included a factory in Sao Paulo, Brazil.

In 2011, Goodyear announced it would work with Zeppelin again to build more airships. This was more than 70 years after their first partnership ended during World War II.

In 2018, Goodyear and Bridgestone created a joint company called TireHub. This company helps distribute tires across the United States. At the same time, Goodyear ended its distribution agreement with American Tire Distributors.

In December 2018, Goodyear stopped its operations in Venezuela. This was because of a lack of materials and rising costs due to economic problems.

In February 2021, Goodyear announced it would buy the Cooper Tire & Rubber Company for $2.5 billion. This deal was expected to be completed in the second half of 2021.

In 2020, the company showed a new concept tire. This tire can change its treads based on the environment and weather. It also uses sensors to learn how a driver drives. This information helps Goodyear understand drivers better.

Timeline of Key Events

Goodyear Tires advertisement, Syracuse Post-Standard, February 26, 1916

1898: Goodyear is founded.
1899: Automobile tires are added to the products.
1901: Frank Seiberling makes racing tires for Henry Ford.
1903: Paul Litchfield gets a patent for the first tubeless car tire.
1908: Ford's Model T cars use Goodyear tires.
1909: The first air tire for aircraft is made.
1911: The first airship envelope is created.
1912: The Goodyear blimp first appears.
1917: Goodyear makes airships and balloons for the U.S. military during World War I.
1919: Tires on the winning car at the Indianapolis 500 are Goodyear.
1924: Goodyear and Zeppelin form a joint company.
1925: The Pilgrim blimp is launched, using helium.
1926: Goodyear becomes the world's largest rubber company by sales.
1927: Goodyear shares are sold to the public for the first time.
1929: Construction begins on the world's largest airship dock in Akron.
1929: Goodyear introduces low-pressure "Airwheels" for aviation.
1935: Goodyear buys Kelly-Springfield Tire.
1937: The first American-made synthetic rubber tire is developed.
1940: The Goodyear-Zeppelin partnership ends due to WWII.
1942: Goodyear gets a contract to build FG-series Corsair naval fighter planes.
1944: Tire testing begins in Texas.
1947: The first nylon tires are developed.
1949: Goodyear starts its first TV advertising.
1954: The first company-wide strike happens.
1956: A Goodyear-operated atomic processing plant opens in Ohio.
1957: The Goodyear Proving Grounds for tire testing are rebuilt.
1958: Production of foam-padded car dashboards begins.
1962: Goodyear racing tires are used on more winning cars than any other brand.
1963: Goodyear produces its one billionth tire.
1965: Radial-ply tires are available for car makers.
1967: Goodyear introduces the Polyglas tire.
1969: Sales reach $3 billion.
1970: Goodyear tires are the first on the moon (Apollo 14).
1974: Sales reach $5 billion.
1975: Goodyear supplies all tires for the Indianapolis 500.
1976: The Chemical Division ships its first shatterproof polyester resin bottles.
1977: The first all-season tire (Tiempo) is introduced.
1978: The Akron plant becomes a Technical Center for research.
1983: The three billionth tire is produced.
1984: Worldwide sales are over $10 billion.
1986: James Goldsmith tries to take over the company, leading to restructuring.
1987: The California–Texas "All American" oil pipeline is completed.
1991: The Aquatred tire is introduced.
1992: Goodyear starts selling tires at Sears stores.
1993: The first tire store opens in Beijing, China.
1993: The Dalian plant opens in China.
1994: An "electronic store" opens on CompuServe.
1995: Worldwide sales are over $13 billion.
1995: Goodyear buys Polish Tire Company Dębica.
1998: The All American Pipeline and Celeron businesses are sold.
1999: Goodyear forms a big partnership with Japan's Sumitomo Rubber Industries.
2000: Goodyear forms an online buying group with other rubber companies.
2003: Quarterly payments to shareholders are stopped.
2004: Assurance TripleTred and ComforTred tires are introduced.
2005: North American farm tire operations are sold to Titan Tire Corporation.
2006: The Goodyear blimp makes its first flight in China.
2007: The Engineered Products Division is sold.
2008: A trust for employees' benefits is approved and funded.
2009: The Goodyear Assurance Fuel Max tire is introduced.
2010: Plans are announced to sell European and Latin American farm tire businesses.
2011: Goodyear and Zeppelin's company partner again to build more airships.
2013: A new headquarters complex opens in Akron.
2015: Goodyear and Sumitomo end their worldwide partnership.
2018: The company ranks 187th on the Fortune 500 list.
2020: The company shows a self-regenerating concept tire with AI features.

Goodyear's Structure and Leaders

Subsidiaries

Goodyear owns or has partnerships with several other tire brands and companies:

Cooper Tire & Rubber Co.
Dunlop Tyres (in North America, Europe, Australia, and New Zealand)
The Kelly Springfield Tire Company (in the United States)
Douglas Tires
Fierce
Lee
Sava (in Slovenia)
Fulda (in Germany)
Dębica (in Poland)
Wingfoot Commercial Tire Systems, LLC
Bluestreak (in Indonesia)
Regetta (in Australia)
LS2000 (in Japan)
Goodyear Auto Service Centers
Goodyear Chemical
Just Tires
Raben Tire

Goodyear Products

Automotive Tires

Wrangler DuraTrac

Goodyear NASCAR Tires and Wheels

Goodyear makes many types of tires for cars, SUVs, and trucks:

Assurance (for passenger cars, all seasons)
- TripleTred All Season
- Triplemax
- Duraplus
- ComforTred Touring
- FuelMax
- CS Fuel Max (for SUVs)
- CS TripleTred All Season (for SUVs)
- Weather Ready
- ComfortDrive
- MaxLife
- All-Season
- Outlast (sold only at Walmart Auto Care Centers)
Integrity (original equipment for all seasons)
Fortera (for SUVs)
- Silent Armor
- TripleTread
- HL
- SL
Wrangler (for trucks)
- Silent Armor
- All Terrain Adventure
- AT/R
- AT/S
- AT/SA
- RS/A
- RT/S
- SR-A
- TG
- HP
- HP AW
- MTR with Kevlar
- DuraTrac
- DuraGrip
- SteadFast HT
- Radial
EfficientGrip (Summer Tires)
- EfficientGrip Performance
- EfficientGrip Compact
Eagle (for touring and performance cars)
- Eagle F1 series
- Eagle Efficient Grip
- Eagle GT3
- Eagle LS
- Eagle LS2
- Eagle NCT
- Eagle RS-A
- Eagle RS-A 2
- Eagle RV
- Eagle Sport
- Excellence
- Response Edge
Nordic (Winter tires)
UltraGrip Ice (Winter tires)
UltraGrip Ice WRT (Winter tires)
UltraGrip Winter (Winter tires)
Winter Command (Winter tires)
KhADI-27

Commercial and Specialty Tires

Goodyear Tire Company mechanic shop in Goodlettsville, Tennessee.

Goodyear Tire shop in Markham, Ontario

2004-06 Ford F-150 Goodyear.

Goodyear also makes tires for bigger vehicles and special uses:

Commercial Truck Tires
- Cargo G26
- Cargo Marathon
- Cargo Marathon 2
- Cargo Vector
- Cargo Vector 2
- Fuel Max
- Duraseal
Off The Road (OTR) Tires (for heavy machinery)
- For Articulated Dump Trucks, Rigid Haulage Trucks, Mobile Cranes, Scrapers, Port & Container Handling, Dozers and Loaders, Mine Service, Motor Graders
ATV Tires
- Rawhide Camo
- Rawhide MT/R
RV Tires (for recreational vehicles)
- Unisteel series
- Wrangler HT (all weather)
- Marathon (for trailer towing)
Aviation Tires (for airplanes)

Non-Tire Industrial Products

Goodyear trailer at a NASCAR Nationwide Series race

Goodyear makes other products too, not just tires:

Airsprings (parts that help vehicles absorb shocks)
Industrial hoses
Hydraulic products (using liquid pressure)
Conveyor belts (for moving materials)
Power transmission products (for transferring power)
Molded transportation products (for controlling vibrations)
Rubber tracks (for vehicles like excavators)
Isoprene monomer (a chemical used in rubber)
Synthetic rubber for medical uses
Synthetic rubber for chewing gum

Goodyear-branded wiper blades are made by another company under a license. Goodyear also produces the rubber for Lacoste tennis shoes.

Goodyear Blimp "Spirit of America"

In August 2015, Goodyear announced that its "Spirit of America" blimp would retire. This blimp was based in California and was part of a plan to switch to newer, more advanced airships.

Retirement and New Blimps

The "Spirit of America" blimp was named on September 5, 2002. It retired after 13 years of flying. Its retirement was part of Goodyear's plan to bring in a new generation of Zeppelin model airships. The blimp had a series of final events, including covering sports games and the Special Olympics. Its last trip was a 29-day tour of the West Coast. It was officially taken out of service in mid-August 2015.

Goodyear held a public party on August 7 and 8, 2015, for people to see the blimp one last time. The "Spirit of Innovation," which was a similar blimp, was set to replace "Spirit of America" in the Los Angeles area by late September 2015.

What the Blimp Achieved

During its years of service, "Spirit of America" flew 8,005 times. It carried 30,280 passengers and flew for a total of 13,436 hours. The blimp was named to honor American patriotism after the events of September 11, 2001. It appeared at many famous events, like the Rose Parade and the Academy Awards. It was also featured in TV shows. In 2011, it was even rebranded for the movie "Cars 2."