Goodyear Tire announces medium-term strategic goal

Goodyear Tire & Rubber Company (Goodyear), Executive Vice President and CFO Darren Wells (Darren Wells) has announced a series of major strategic goals of the company after 2013 to the public.

According to reports, the company’s global operating profit target for 2013 was US$1.6 billion. Among them, the company’s North American tire business unit’s operating profit target for 2013 was US$ 450 million (2010 was US$ 18 million), and the operating profit target of other international businesses in the same year was US$ 1.15 billion. In 2010, the company recorded an operating profit of $917 million.

The company said that in 2007 it produced 200 million tires (including 36 million tires from factories that have been closed or are about to close), and 61% of the 200 million tires are high value-added tires. In 2010, the company’s total tire production was 173 million (including 17 million tires produced by factories that had been closed or were about to close), of which 73% were high value-added tire products. Goodyear said it intends to increase its tire production capacity to 195 million in 2013. From 2010 to 2013, the company plans to maintain an annual growth rate of tire annual production capacity of 3-5%, and plans to increase the proportion of high value-added tire products to 77% in 2013.

In addition, the company also pointed out that its annual tire production in China in 2013 and 2015 targets 8.2 million and 11.6 million, respectively.

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