Founded by Frank Seilberg in 1898, this American multinational company is headquartered in Akron, Ohio.
Its presence in India is more than 90 years old, with two plants operating in India – Balagarh and Aurangabad. It supplies tyres to many OEMs in the passenger car segment, and also it has been a pioneer in introducing tubeless radial tyres in India, with a strong presence in the tyre market.
It also supplies to all major tractor companies. As a result it expects its revenue to increase as tractor usage in India matches with the global average and the increasing mechanization of agriculture.
Its recent financial performance was affected by the slow growth in the agricultural sector as a result of poor monsoon which resulted in poor growth in tractor sales. However this was somewhat compensated by the increase in the growth of passenger car segment. Also to improve the financial performance the focus was kept on decreasing costs by improving efficiency, using the strong brand image to drive sales in the replacement market, and expansion marketing and distribution channels.
It benefitted from fall in the commodity prices that led to decrease in the cost of key input materials and also lower inflation that increased the demand for its products. The company benefits from the research and development carried out by the parent company in USA and the adoption of other technologies developed by its sister subsidiaries in other countries. It adopted technical innovations made at Goodyear’s Innovation centers in Luxembourg and Akron. This helped it to launch new products in the Indian market. Currently it has imported the technology to make radial farm tyres and bias farm tubeless tyre.