Even though the integration isn't complete, Goodyear Tire & Rubber Co. Chairman, CEO and President Rich Kramer outlined three details that are critical to Goodyear and Cooper tire dealers about what to expect from the combined companies in 2021.
- “We will continue our existing strategies for our brands, product portfolio, programs and promotions.
- “We expect Goodyear and Cooper product launches will remain on track.
- “And in the near term, we plan for our combined manufacturing footprint to stay as is”
Kramer provided that overview in a video Goodyear shared on June 7, the same day the tiremaker announced it had completed the acquisition of Cooper Tire & Rubber Co. (Watch the full video below.)
Though he didn’t provide specifics on any of those three fronts, the company did mention “opportunities for expansion of select Cooper facilities” in its press release announcing the deal was complete. Goodyear said those opportunities would improve “capital efficiency and flexibility.”
Kramer also said, “We’ll be a company that builds relationships with consumers, by providing what they need and making it easy to choose our brands; with customers, by helping them grow their businesses, so we win together; with our associates, by engaging and enabling them to safely reach their full potential; and with our communities, by helping improve the lives of our neighbors where we live and work.”
He said the acquisition of Cooper presents “immediate and long-term financial benefits.”
Kramer said, “As we begin this new chapter, we have positive momentum and tremendous support from our stakeholders. Our team is positioned to lead the tire industry in a way neither of us could have done on our own. And we have a historic opportunity in front of us. That opportunity is a chance to be the leading tire company in an evolving world of new mobility.”