Goodyear Tire and Rubber Company

From ArticleWorld

Goodyear Tire and Rubber Company was so named in the honor of inventor of vulcanized rubber, Charles Goodyear. Goodyear, has global presence and is most respected for its quality in trying conditions like F1 racing, all terrain tires and heavy-duty trucking. Goodyear also has a sister concern named Goodyear Aerospace Corporation, which was originally Goodyear Aircraft Company. It has been sold off to Loral Corporation following a hostile takeover bid in 1987.

Goodyear founded by Frank Seibrling, started by manufacturing carriage and bicycle tires and poker chips and horse shoe rubber pads as by-products in 1898. The entrepreneurship of Goodyear saw them graduate to manufacturing hi quality, tough and resilient tires for cars used in racing. In 1908, Fords’ “Model T” started using Goodyear.

In the immediate aftermath, i.e. in the year 1909, Goodyear achieved another landmark in its history. It manufactured aircraft tires for the American Army in World War 1. They were also entrusted by the army for manufacture of air balloons & airships. In 1919, Indianapolis 500 racing car competition gave a world-wide image to Goodyear. The winning car had run on Goodyear tires.

Bouncing back

Keeping low during the economic depression that followed, Goodyear bounced back into recognition riding on the acquisition of contract to produce F 4U fighter planes. By keeping up by the diversification and challenging spirit, it opened up a U235 atomic processing plant in Ohio.

By the mid of Eighties, Goodyear had a turnover exceeding $10 million, having manufacturing facilities in scores of nation world-wide. Political clout, lobbying and shrewd restructuring of operations caused it to be dubbed as a runaway.

Diversification

Goodyear then diversified into oil pipelining work in a big way and simultaneously opened the largest tire plant in the world. Though, known all over the world for tires, Goodyear, through its acumen for exciting and happening spheres of technological innovations has earned a niche for itself and weathered many down turns in economy, facing stiff competition from major players like Bridgestone, Continental, Dunlop, Firestone & Michelin. Goodyear is credited with breakthrough in tire manufacturing technology like “Triple tread” for all-terrain driving.