Goodyear tells shareholders it foresees turnaround in 2000

AKRON (April 11)—Plans for consolidation, increased global capacity and improved capital returns in 2000 are expected to push net sales past the $15 billion mark, solidifying Goodyear as the world´s top tire manufacturer, according to the company´s top executive. Samir G. Gibara, Goodyear´s chairman, CEO and president, told shareholders April 10 at their annual meeting that the Akron tire firm´s strategy for 2000 includes profitable growth and financial recovery. The company will continue its integration of the Dunlop operations obtained through its 1999 alliance with Japan´s Sumitomo Rubber Industries Ltd. and expects to nearly double net income from the $240 million in 1999, Gibara said.