Goodyear: Cooper Tire integration in final stages

AKRON — As Goodyear celebrates the one-year anniversary of its historic acquisition of fellow Ohio tire maker Cooper Tire & Rubber Co., the Akron-based tire maker said that toward the beginning of 2023, Goodyear and Cooper dealers will have "access to a single operating system, combined sales force and an integrated brand and product portfolio."

Ryan Patterson, Goodyear Americas chief operating and integration officer, said in a June 7 letter that the company remains "on track to deliver the full value of this integration in 2023."

The letter was delivered to dealers and posted on Goodyear's corporate website and social channels for consumers — 12 months to the day the merger was finalized.

Patterson was promoted to his newly created position on Oct. 11, 2021. He leads the North America Consumer and Commercial business units, overseeing the Americas integration plan.

In the letter, Patterson pointed out several accomplishments achieved over the past year.

"Since that time," Patterson wrote to dealers, "you have remained our priority as we worked to deliver uninterrupted customer service while creating more value for your businesses. I'm proud of what we've achieved together with you through the first year of integration."

The $2.5 billion cash-and-stock purchase surprised many in the industry when it was announced on Feb. 22, 2021. The deal combined Goodyear, the world's No. 3 tire maker, with global sales of $11.4 billion in 2020, with Findlay-Ohio based Cooper, the No. 13 tire maker with 2020 global sales of $2.5 billion.

Patterson pointed out how the company has continued to invest in its brands since the sale was consummated. That includes:

• Building the first replacement tires designed for electric vehicles (ElectricDrive GT and the Endurance RSA ULT);
• The expansion of the Mastercraft portfolio with the addition of two new lines; and
• Producing more sustainable commercial tires by replacing petroleum content with soybean oil.
• "In addition to developing leading products, we listened to your feedback and made great strides as a supplier," Patterson wrote. "While we still have work to do, we have improved our supply and inventory quality in an extremely volatile environment."

It remains unclear how Goodyear plans to position its new brands — Cooper, Mastercraft and Roadmaster among them — into the market with its Goodyear and Kelly brands.

Goodyear President and CEO Rich Kramer told analysts recently that Goodyear has begun offering Cooper- and Starfire-brand tires through its company-owned retail and commercial outlets as part of a plan to broaden the mix of products offered through those channels.

That means that Goodyear's TireHub L.L.C. joint venture with Bridgestone Americas has begun stocking Cooper-brand products at warehouses across the country. Previously, American Tire Distributors Inc. (ATD) had been Cooper Tire's primary distributor.

Patterson concluded his letter by telling dealers that Goodyear "deeply appreciates your loyalty and business.

"Together, we are positioned to become a stronger U.S. leader in the global tire industry, and I am confident that the best is yet to come."