NEW YORK (April 30)—To put its house in order in the coming years, Goodyear will lean more heavily on its global resources, reduce annual operating costs by up to $1.5 billion, increase revenue per tire by 4 percent, sell assets and streamline its functions top to bottom, company executives told financial analysts in New York today. Regarding global resources, Goodyear execs said they would increase the percentage of tires the company sources from Asia, Latin America and Eastern Europe for North America and Europe by 2005. Another aspect of the firm's plans covers increased cooperation in Asia with Sumitomo Rubber Industries Ltd., although President Robert Keegan did not disclose details at this time. Specifically, by 2005, Goodyear expects to gain two points of market share in North America and one point throughout the rest of the world.
Goodyear aims to rebound through global sourcing, streamlining
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