AKRON (May 1, 2003) — Looking to enhance its global sourcing possibilities, Goodyear has approached Sumitomo Rubber Industries Ltd. about broadening their global alliance.
Among the topics the companies plan to discuss is joint ownership of certain Asian manufacturing and/or distribution facilities, other than in Thailand and Japan. Goodyear disclosed in its first quarter 10-Q filing with the Securities and Exchange Commission that representatives of the companies are to meet no later than June 30 to open formal discussions about this and other matters, including the exchange of non-commercialized technology.
Goodyear President and CEO Robert Keegan, speaking to analysts April 30 at the presentation of the firm's first quarter financial results, said the company's plan to increase its global sourcing includes increased cooperation in Asia with Sumitomo. A company spokesman said off-take production also would be part of the discussions.
Goodyear said it plans by 2005 to nearly double the percentage of tires it sources from Asia for North America and Europe.