To strengthen presence in tyre industry the Goodyear Tire & Rubber Company announced to acquire Americas leading tyre manufacturer Cooper Tire & Rubber Company for approximately USD 2.5 billion. Cooper products are manufactured in 10 facilities around the globe.
- The transaction will expand Goodyear’s product offering by combining two portfolios of complementary brands.
- The deal includes the Cooper’s portfolio of brands such as Cooper, Mastercraft, Roadmaster and Mickey Thompson.
- Cooper is the 5th-largest tire manufacturer in North America by revenue with approximately 10,000 employees working in 15 countries worldwide.
The prominent deals and partnerships are featured below:
Feb 2021: Goodyear Ventures has added TuSimple, a global autonomous trucking technology company, to its growing investment portfolio. TuSimple operates self-driving trucks out of their facilities in Arizona, Texas, China, Japan and Europe using an ecosystem made up of digital maps, strategic terminals and an autonomous fleet operations system. TuSimple is developing a commercial-ready Level 4 autonomous driving solution to transform the logistics industry.
Jan 2021: The Goodyear Tire & Rubber Company and VI-grade announced a state-of-the-art DiM250 DYNAMIC Driving Simulator will be installed at Goodyears Innovation Center in Colmar-Berg, Luxembourg. In addition to strengthening Goodyears product development at the European site, the new driving simulator also enhances technical collaboration with its headquarters in Akron, Ohio, USA, where another DiM250 was recently put into operation.
June 2020: The Goodyear Tire & Rubber Company and Lordstown Motors announced a strategic relationship with the two Ohio-based companies agreeing to collaborate on tires and service in addition to future tire intelligence opportunities. The announcement coincides with Lordstowns debut of its first all-electric pickup truck, the Endurance, featuring Goodyear tires on Thursday. As part of the agreement, Goodyear also intends to acquire new Endurance vehicles to integrate into its own servicing fleet recognizing the sustainable footprint of the all-electric vehicles.
About The Goodyear Tire & Rubber Company
Goodyear, headquartered at Akron, Ohio, the USA, is one of the largest tire manufacturers in the world. The company produces well-respected international brand, including Dunlop, Kelly, Fulda, Sava and Debica Goodyear-brand tire. Goodyears non-tire business includes rubber products and polymers for a variety of markets. The company employs approximately 62,000 people and manufactures its products in 46 facilities in 21 countries around the world. The company has two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg.