Add another tire to the Fortune 500 club
A big player in the tire industry is close to cracking the Fortune 500. And to celebrate the company completed another acquisition on June 30, 2015.
American Tire Distributors Holdings Inc. shot up more than 100 spots, from No. 616 to No. 514. The Fortune 500 is based on revenues of companies incorporated in, and doing business in, the U.S. For 2014, ATD recorded $5 billion in revenues, up 31%. (Read more about ATD’s 2014 financials in these two MTD stories: ATD increases sales dramatically, but suffers loss, and An abridged look at ATD by the numbers.)
Officially, Goodyear Tire & Rubber Co. is the only tire manufacturer on the Fortune 500. It’s ranked No. 166, a drop from its spot at No. 147 in 2014. Cooper Tire & Rubber Co. hasn’t yet cracked the 500, but sits at No. 688, down from No. 669 a year ago.
Goodyear also made another one of Fortune’s lists this year. Call it a special edition list: The 15 companies of the Fortune 500 with the fastest-growing profits. Fortune says Goodyear’s profits increased 293% on $18.1 billion revenue. The reason for the surge: lower raw material and pension costs. See the list of big profit winners here.
Goodyear also has longevity on its side. It’s been on the Fortune 500 list for 21 years. But here’s a spoiler alert, no tire company has made every Fortune 500 list since it began 61 years ago. See the companies who have, here.
For a full report of ATD's latest acquisition, read: