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Stock Market & Financial Investment News

News Breaks
February 12, 2013
07:34 EDTGTGoodyear Tire announces pension funding strategy
Goodyear has announced its strategy to accelerate funding of its U.S. pension plans once frozen and to reduce its exposure to future interest rate and equity market movements. The company intends to finance the additional contributions by accessing the debt capital markets. As funded levels increase, Goodyear plans to shift its U. S. pension plan asset allocation to a portfolio of fixed income securities designed to offset the future impact of discount rate movements on the plans' funded status.
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April 24, 2015
13:20 EDTGTGoodyear Tire to build tire factory in Mexico
The Goodyear Tire & Rubber Company announced it will build a new tire factory in San Luis Potosi, Mexico to serve its customers in the Americas. The new factory, combined with investments in its existing U.S. and Canadian factories, will enable Goodyear to meet the strong and growing market demand for high-value-added, or HVA, consumer tires in North America and Latin America. Industry demand for HVA tires in these regions is expected to increase by 10M tires per year from 2014-2019. Total capital investment for the project will be approximately $500M-$550M, net of government incentives, and is consistent with the company's existing capital allocation plan. Its outlook for 2015 and 2016 capital expenditures remains unchanged at $1.1B and $1.2B-$1.3B, respectively.
06:28 EDTGTGoodyear Tire plans to put plant in San Luis Potosi, Mexico, Reuters says
Goodyear Tire is planning to invest $550M in a new tire plant in San Luis Potosi, Mexico, reports Reuters, citing two people familiar with the matter. Reference Link

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