Goodyear Completes Acquisition of Ventech Systems
Germany-based business to be integrated into Goodyear Proactive Solutions
Andre Weisz named chief executive officer of Ventech Systems
BRUSSELS, BELGIUM--(Marketwired - November 09, 2017) - The Goodyear Tire & Rubber Company announced today that it has completed the previously announced acquisition of Ventech Systems GmbH, a leader in automated tire inspection technology, from Grenzebach Maschinenbau GmbH to support its fleet services in Europe and other geographies of the world.
Ventech Systems provides a fully-automated tire inspection system that quickly and easily checks tire pressure, tread depth and vehicle weight for buses, trucks, cars and other vehicles.
The company, based in Dorsten, Germany, will be integrated into the Goodyear Proactive Solutions business in the Europe, Middle East and Africa region, where Goodyear's Proactive Solutions program is currently available.
Andre Weisz, managing director, Goodyear Proactive Solutions, has been named chief executive officer of Ventech Systems. Andreas Pietsch, Ventech Systems chief operating officer, will remain in that position.
Last year, Goodyear launched Goodyear Proactive Solutions to provide a full suite of operations management solutions supporting fleet owners to improve safety, decrease fuel use, reduce their carbon footprint and support the digital transformation of their fleet.
The acquisition strengthens Goodyear's one stop value proposition towards fleets, including premium tires, advanced technology and mobile fleet solutions as well as a complete service package to allow them to optimize their total cost of ownership and efficiency.
Goodyear is one of the world's largest tire companies. It employs about 65,000 people and manufactures its products in 48 facilities in 22 countries around the world. Its two Innovation Centers in Akron, Ohio and Colmar-Berg, Luxembourg strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate . GT-FN
Certain information contained in this press release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to implement successfully our strategic initiatives; actions and initiatives taken by both current and potential competitors; increases in the prices paid for raw materials and energy; a labor strike, work stoppage or other similar event; foreign currency translation and transaction risks; deteriorating economic conditions or an inability to access capital markets; work stoppages, financial difficulties or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; our failure to comply with a material covenant in our debt obligations; potential adverse consequences of litigation involving the company; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.
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