The company marks its 80th anniversary.The all-season tire sold 3.5 million in its first year. Goodyear is the first company in the rubber industry to top the $7 billion mark in sales, led by the most successful tire in company history, the Tiempo.Plans announced to turn an idle Akron tire plant into a new $75-million Technical Center.Plans announced to turn an idle Akron tire plant into a new $75-million Technical Center. The company's first sale for $25.80 in rubber tubes for pharmaceutical bottles is recorded on December 1.ġ978 Big Plans for Akron Technical Center.Production of carriage tires, bicycle tires, horseshoe pads and rubber sundries begins on November 21.David Hill, who purchased $30,000 of the company's initial stock, named president.Company named in honor of Charles Goodyear, who discovered the rubber vulcanization process in 1839.Seiberling and his brother Charles found The Goodyear Tire & Rubber Company with initial capital stock of $100,000 on August 29.The remainder would be paid in four yearly installments of $2,500. Frank Seiberling borrows $3,500 from his brother-in-law Lucius Miles for the down payment needed to buy an abandoned strawboard factory on the banks of the Little Cuyahoga River in Akron, Ohio.Frank Seiberling borrows $3,500 from his brother-in-law Lucius Miles for the down payment needed to buy an abandoned strawboard factory on the banks of the Little Cuyahoga River in Akron, Ohio, founding The Goodyear Tire & Rubber Company.
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