DALLAS, Sept. 3, 2009 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring tire manufacturer company Goodyear Tire & Rubber Company (NYSE:GT). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The investment report on Goodyear Tire & Rubber Company (NYSE:GT) should be of particular interest to other tire manufacturing companies: Cooper Tire & Rubber Co. (NYSE:CTB), Bridgestone Corp. ADR (Pink Sheets:BRDCY) and Continental AG (Pink Sheets:CTTAY).
It is available at: http://www.beaconequity.com/i/GT
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The Goodyear Tire & Rubber Company (GT) is a leading manufacturer of tires worldwide. The Company operates 61 manufacturing facilities in 25 countries. Its business operates in four segments, including Europe, Middle East and Africa Tire (EMEA), Latin American Tire and Asia Pacific Tire.
In the report, the analyst notes:
"The Company reported weak demand for its products during the second quarter of 2009 due to the global recession. The industry experienced weak demand for replacement tires, and most prominently in the commercial market. Lower motor vehicle sales and overall declining world GDP in most of the world's economies contributed to lower revenue in all Company segments. The Company added, however, that signs of stability became evident late in the second quarter. The Company remains cautious in its outlook for the remainder of the year.
"The Company's strategic posture is defensive, with initiatives to downsize operations continuing through 2010. Management has embarked on a cost and capacity cutting strategy to achieve profitability, not unlike most manufacturers of consumer cyclical products since the recession began. As of the close of the second quarter, sales volume continued to decline, coinciding with the demand for new vehicles."
To read the entire report visit: http://www.beaconequity.com/i/GT
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