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Goodyear India Ltd. Company History and Annual Growth Details

1922 - The Company was incorporated to manufacture tyres and
rubber goods.

1961 - On becoming a public limited company in March, the name of the
Company was changed from 'The Goodyear Tire & Rubber Co. (India)
Ltd.' to 'Goodyear India Ltd.'.

- The Goodyear Tires & Rubber Co., Akron, U.S.A., the ultimate
holding company and its nominees hold 89,68,400 No. of equity
shares of the Company.

- Subject to necessary permission being received, the Company
proposed to issue 81,00,815 No. of equity shares of Rs 10 each
at a premium of Rs 77.94 per share to the Good Year Tyre &
Rubber Company Akron, Ohio U.S.A. to raise their stake to 74%
from the existing 59.926%.

1962 - 16,00,000 right shares issued.

1963 - 4,00,000 shares offered to the public (prem. Rs 7 per share).

1964 - In Dec. 6,40,000 shares offered (prem. Rs 7 per share; prop. 5:8)
to Indian shareholders.

1973 - 25,38,577 bonus shares issued in prop. 1:1.

1974 - 2,67,736 right shares issued (prem. of Rs 7 per share; prop. 1:7)
to Indian Nationals.

1977 - 21,37,956 bonus shares issued in prop. 2:5.

1982 - The Company executed an agreement with Andrew Yule & Co. Ltd.,
Calcutta to provide technical know-how for manufacture of 'Fan'
and 'Vee' belts and to buy 50% of their production for resale
under the 'Goodyear' brand name.

- An approval was received to convert the bicycle tyre plant to
produce 1,50,000 scooter/motorcycle tyres per annum and to
increase the production capacity of automotive tyres and tubes to
10.24 lakhs per annum.

- The Company undertook a three-year modernisation in the
Ballabgarh plant in order to raise the plant capacity.

1989 - The Company proposed to increase the production of ultra large
earthmover tyres as an import substitution measure.

1990 - The 'Power Tread', a passenger radial tyre launched was well
received in the market.

- 74,82,846 bonus shares issued in prop. 1:1.

1993 - Profitability was adversely affected due to strike of truckers,
high carrying cost on receivables and competitive prices.

1994 - The company introduced two new products namely 'Power King' in
the Bias Truck Tyre segment and wrangler-RT/s in fabric radial
segment for car and other vehicles which received high
acclamation for their quality and acceptance.

1995 - The Company entered into a joint venture arrangement for
manufacturing Steel Radial Passenger, Light and Medium Truck
Tyres and Bias Earthmover tyres with the technology of The
Goodyear Tire & Rubber Company, Akron, U.S.A.

1996 - In the Ballabgarh plant, a 5.3 MW RFO based wartsila genset was

1997 - The Company undertook expansion of Rear Farm Tyres production at
its Ballabgarh plant.

- 81,00,815 No. of equity shares allotted to Goodyear Tea & Rubber
Co. U.S.A.

- Goodyear India, a subsidiary of global tyre giant Goodyear Tire
and Rubber Company, is organising a 700-km two day car rally
for women in Delhi.

- The company will be issuing preferential shares at the rate of
Rs.87.94 per share which would amount to Rs.71 crore to the

- The company proposes to raise Rs.710 million in the form of
preferential shares in order to reduce the debt burden and
increase the working capital of its Indian arm.

- Goodyear Tire & Rubber Co. and the Steelworkers union reached a
tentative contract agreement that if ratified will end the
union's 14-day strike against the tyremaker.

- Goodyear has also set up a joint venture company in partnership
with Ceat Ltd called South Asia Tyres Ltd (SATL). The 50:50
joint venture has set up a Rs.367 crore radial tyre plant at

- Goodyear India Ltd. (GIL) promoted by Goodyear Tire & Rubber,
USA (FY96 turnover US $13 billion) went public in 1961.

1998 - RPG Enterprises and Goodyear India's 50:50 joint venture South
Asia Tyres Ltd is under strain.

- The company presently has a capacity of 1,194 tonnes per year.
The company's joint venture with its parent company and Ceat,
South Asia Tyres.

1999 - The company has the technical and financial muscle to ride out
the current sluggish phase.

- Goodyear India Ltd. (GIL), announced the launch of two new tyre
that are meant for special purpose dump trucks used in mining,
quarrying and construction activities.

- Goodyear has simultaneously launched nine new tyres. This is
probably the first time that a tyre company has introduced so
many new products at one go.

- Goodyear has emerged as the largest tyre company in the world and
India is its largest investment destination in Asia.

2000 - The Company has informed that, Goodyear Tire & Rubber Company,
Akron, Chlo, USA, continues to hold 1,70,69,215 equity shares of
Rs. 10/- each which constitutes 74% of the equity share capital
of the company.


-Unveiles three new products for truck and light truck segments. Launched after field and Laboratory testing, the three new tyres are the power 2000, the Power Torq+and the Power Max+, targeted at the medium, commercial and light truck segments respectively.

-Mr C Dasgupta, former Ambassador to European Union, the Kingdom of Belgium and China, has joined the Board of the company as non-wholetime Director.

-Launches tubeless radial tyres for the passenger car category, making it the first tyre manufacturer in the country to offer a complete tubeless tyre range for all types of passenger cars


-Mr H D Pace, non-wholetime Director and Mr E Krishnaiah, wholetime sales Director, resign from the company

-Decides to stop the manufacture of tyres for Ceat Ltd under the brand names of the latter company

-Mr Antonio M. Capellini appointed as its new Chairman and Managing Director


-Company chosen as the original equipment (OE) supplier of tyres for two domestic passenger cars, Skoda Octavia and GM Chevrolet Optra, and two export cars, the Telco City Rover and Telcoline 4X2

-Parent Goodyear Tire & Rubber Company - the largest tyre manufacturer in the world - decides to invest $30 million (approximately Rs 135 crore) via the external commercial borrowing (ECB) route in its units at Ballabgarh and Aurangabad


-Goodyear India on Oct 10, 2006, rolled out new range of tyres Excellence for the premium car segment in India.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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