According to its website, Tyremax began operation in 1972, first with tubes and repair products. It started to distribute tires in 1994.
"And we're as committed to supporting our dealers now as we were back then," the company said on its website. "With our comprehensive distribution network, we offer fast delivery to every tire dealer, in every part of New Zealand."
Tyremax lists nine brands on its website that it distributes: Continental, General, Hifly, Maxam, Maxxis, Starmaxx, Nokian, Vitoria and Vredestein.
ETD began wholesale distribution in 1989, according to its website, and has more than 1,800 retail customers in Australia and New Zealand, employing more than 8,500.
ETD already distributes Cooper, Mickey Thompson, Mastercraft and Starfire branded tires, all Goodyear products.
ETD said it "offers retail customers and consumers a memorably positive experience — we understand that, today, purchase journeys are different and that consumers have more access to information than ever before. ETD strives to facilitate higher levels of consumer engagement in tire purchases."
Goodyear said it would consult with representatives of employees in the region as it initiates the plan. It is targeting year-end 2024 for completion.
"We remain committed to treating our associates with integrity and respect," Goodyear said.
Goodyear operates more than 370 retail outlets in Australia under the Beaurepaires and Goodyear Autocare brands, alongside the Dunlop Super Dealer affiliated dealer network of about 150 independent dealers.
In the filing, the tire maker said it plans to discuss the moves with investors in the fourth quarter.
Goodyear estimated that the costs to execute the plan will be between $55 million and $65 million. It said in the filing it expects to record around $20 million of pre-tax charges related to the plan in the third quarter and another $5 million of pre-tax charges in the fourth quarter.
The rest of the costs will occur in 2024, Goodyear said.
News of the plan comes two weeks after Goodyear unveiled plans to streamline operations across the Europe, Middle East and Africa (EMEA) region that could save the tire maker as much as $100 million.
Goodyear said Sept. 5 that it would cut as many as 1,200 jobs in the EMEA region as part of its broader set of perspectives aimed at more efficient operations. It also emphasized that it plans to create 500 new roles, "principally in its existing shared services organization in Romania."
According to a Sept. 8 SEC filing, the tire maker noted that the job cuts would be made across multiple countries within EMEA.
In its second-quarter financials, Goodyear reported a 65.9% drop in operating income for the quarter ended June 30 on 8.6% lower sales, results that drove company into the red on a net basis of $208 million.
Segment operating income fell to $124 million on revenue of $4.87 billion, cutting the operating ratio 4 ½ points to 2.5%. Goodyear cited the negative effects of lower sales volume and higher expenses for the drop into the red.
In the filing, it said it expects its Americas and Asia/Pacific business units to record "meaningful improvements" in margin by year end with solid earnings heading into 2024.