Goodyear Establishes Tire Development Center in China

- Company's first development center in China opens door to new opportunities with China-based automakers

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Mar 26, 2015, 08:30 ET

PULANDIAN, China, March 26, 2015 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) announced today that it has established its first development center in China.

Located at the company's state-of-the-art tire manufacturing facility here, the new center expands Goodyear's capabilities in the Asia Pacific region and will enable it to increase the speed and efficiency of high-value-added tire development, especially for China-based automakers.

The Goodyear Tire & Rubber Company has established its first development center in China. Located at the company's state-of-the-art tire manufacturing facility in Pulandian, the new center expands Goodyear's capabilities in the Asia Pacific region and will enable it to increase the speed and efficiency of high-value-added tire development, especially for Chinese automakers.

The Goodyear Tire & Rubber Company has established its first development center in China. Participating in an event celebrating the opening of the facility in Pulandian are (from left) Richard J. Kramer, Goodyear chairman and chief executive officer; Tang Jun, party secretary, Dalian Municipal Committee; Scott Weinhold, consul general, United States Consulate in Shenyang, China; and Xiao Shengfeng, mayor, Dalian Municipal Government.

"China is the world's largest and fastest-growing market for passenger cars and commercial trucks, and critical to Goodyear's growth strategy," said Richard J. Kramer, the company's chairman and chief executive officer. "The new China development center will be an integral part of our network of global innovation centers and strengthen our innovation leadership role in the global tire industry."

Locating the Chinese center in Pulandian will support Goodyear's market-back innovation approach providing direct interactions between customers and designers, and the building of local capabilities. It will also allow the company to enter new original equipment platforms in China, including new energy vehicles.

"The time is right for us to increase our capabilities in China to ensure we remain first with our customers," said Kramer. "We have built strong relationships with original equipment manufacturers and our investment in this new development center will allow us to expand our new product offerings, accelerate our speed to market and increase the value we deliver to these key customers."

Core tire technology will continue to be developed in Goodyear's global Innovation Centers in Akron, Ohio and Colmar-Berg, Luxembourg, with China development activities focused on product customization for original equipment fitments and project support services.

In addition to the two global innovation centers, Goodyear also operates development centers in Hanau, Germany and Hebron, Ohio.

Goodyear is one of the world's largest tire companies. It employs about 67,000 people and manufactures its products in 50 facilities in 22 countries around the world. Its two Innovation Centers in Akron, Ohio and Colmar-Berg, Luxembourg strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear or its products, go to www.goodyear.com/corporate. GT-FN

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SOURCE The Goodyear Tire & Rubber Company