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Cooper Tire deal may bolster Goodyear's mobility, sustainability plans

AKRON This is the moment that Goodyear has been preparing for: The future mobility moment.
Electric vehicles, autonomous vehicles, connected vehicles they re here, and Goodyear has worked to position itself as a leader in a new mobility ecosystem.
At Goodyear, we have proactively embraced this change, leaning forward and adapting our business in meaningful ways, Richard Kramer, Goodyear chairman, CEO and president, said.
Today, Goodyear feels even better about its position within the tire industry and remains confident in its ability to adapt, not only to a new mobility landscape, but in offering more sustainable tire products. That s because the Akron-based tire maker is poised to purchase Cooper Tire & Rubber Co. ....

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Goodyear to Acquire Cooper, Creating Stronger U.S.-Based Leader in Global Tire Industry

Goodyear to Acquire Cooper, Creating Stronger U.S.-Based Leader in Global Tire Industry
Mar 03, 2021 2:45 PM ET
Legal Newswire POWERED BY LAW.COM
The Goodyear Tire & Rubber Company and Cooper Tire & Rubber Company announced that they have entered a definitive transaction agreement under which Goodyear will acquire Cooper in a transaction with a total enterprise value of approximately $2.5 billion. The transaction will expand Goodyear s product offering by combining two portfolios of complementary brands. It will also create a stronger U.S.-based manufacturer with increased presence in distribution and retail channels while combining both companies strengths in the highly profitable light truck and SUV product segments. The combined company will have approximately $17.5 billion in pro forma 2019 sales. ....

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Goodyear's deal to buy Cooper Tire could boost its tech and sustainability edge

Goodyear s deal to buy Cooper Tire could boost its tech and sustainability edge
ERIN PUSTAY BEAVEN
Goodyear
Goodyear s development of soybean oils for use in tire compounds is a major step forward on the sustainability front. The tire maker is aiming to produce 100% sustainable tires.
This is the moment that Akron-based Goodyear Tire & Rubber Co. has been preparing for: the future mobility moment.
Electric vehicles, autonomous vehicles, connected vehicles they re here, and Goodyear has worked to position itself as a leader in a new mobility ecosystem.
At Goodyear, we have proactively embraced this change, leaning forward and adapting our business in meaningful ways, said Richard Kramer, Goodyear chairman, CEO and president, in a recent conference call with reporters. ....

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Combined Goodyear-Cooper Tire company has tire tech, sustainability edge

With its acquisition of Cooper Tire on the horizon, Goodyear feels good about its position within the tire industry and remains confident in its ability to adapt, not only to a new mobility landscape, but in offering more sustainable tire products. ....

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Goodyear's global footprint would get strategic boost with Cooper Tire deal

Goodyear s global footprint would get strategic boost with Cooper Tire deal
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AKRON When Goodyear officials touted that combining it and Cooper Tire & Rubber Co. would yield $165 million in savings within two years, they were quick to note that this didn t include any manufacturing-related savings.
But during discussions with stock analysts and the press the day Goodyear s proposed $2.5 billion acquisition of Cooper was unveiled Feb. 22, it s clear that the combined manufacturing footprint will get much attention if the deal goes through. And with more than 50 manufacturing facilities worldwide and roughly 200 million units of tire production capability, there will be plenty of options to consider. ....

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