MIAMI LAKES, Fla. — Auto service providers and do-it-yourselfers will soon be seeing Goodyear-brand power transmission belts again, thanks to a licensing deal with a Florida brand-licensing enterprise.
The deal with Miami Lakes-based Adventry Corp. marks the return of the Goodyear brand in this field 13 years after it exited the sector when it sold its industrial products business to venture capital firm Carlyle Group.
Goodyear and Adventry established a "licensee collaboration" in late 2020 that's overseeing the launch of the Goodyear-branded power transmission belt portfolio, which encompasses both transportation and industrial applications globally.
Adventry, with input from Goodyear, is sourcing production of the belts from "multiple global tier 1 rubber manufacturers," although the business partners declined to identify any of the suppliers or the products' country or countries of origin.
Goodyear provides the contractual framework and statements of quality that Adventry uses, and it evaluates all product lines, standards and testing.
"We are thrilled to collaborate with such an iconic brand as Goodyear," Adventry CEO Tara Cevallos said. "Customers expect a great product and that is what we will deliver, along with our outstanding service. We truly strive to put the customer first in everything that we do.
"We are honored to be part of the incredible Goodyear heritage as we forge new relationships and product innovations."
Jorge Gomariz, chairman and founder of Adventry, added: "We are honored to be part of the incredible Goodyear heritage as we forge new relationships and product innovations."
Adventry is bringing the product range to market through the independent distribution channel, targeting both the commercial trade and end-user sectors.
The firm has set up a dedicated website, goodyearbelts.com, which provides some basics about the range of products available, covering automotive, commercial vehicle, lawn and garden and industrial.
Adventry notes that marketplace is evolving, and it will look to distributors to determine the best method to market and sell belts to the targeted end-users.
The company did not comment on product pricing or tier placement but did say the lines feature broad application coverage that meets or exceeds OEM specifications, refined engineering and advanced manufacturing.
Goodyear last produced belts in 2007, the year it sold its industrial products business to Carlyle, which in turn created Veyance Technologies to manage the those assets. The deal included licenses to produce belts, hoses and other goods under the Goodyear name.
Veyance continued to use the Goodyear name until 2015, when Continental A.G. bought most of Veyance's assets and folded them into its ContiTech North America business unit.
At that time, Goodyear canceled the licensing arrangement, giving ContiTech 30 days from the time of the deal's closing to stop using the name on new products and six months to sell off any Goodyear-branded inventory.
Based in Miami Lakes, Adventry was founded by a group of entrepreneurs of diverse backgrounds and extensive experience for the sole purpose of developing and commercializing belts under a license agreement with Goodyear. The company said there are other products on the horizon but did not elaborate.
This is Goodyear's second product licensing deal of the past year. In September, the company launched a line of braking components — brake pads, rotors and calipers — produced mostly in the U.S. by FDP Friction Science of Tappahannock, Va.
Other licensed products on the market include:
- Wiper blades — produced and marketed by Saver Automotive Products Inc. since 2006; available in the U.S., Canada, Mexico, Japan and South Korea.
- Automotive floor mats — marketed by Rally Manufacturing Inc. of Miami.
- Footwear — marketed by SCL Footwear Group P.L.C. since 2016.
