The 2012 Breakthrough Award has just been announced by POPULAR MECHANICS, and Goodyear Tire & Rubber (NYSE: GT) is one of the recipients. This is the 8th year that the Breakthrough Awards have been announced and, like every year, the award recognizes innovations and innovators of products and services that revolutionize the fields of medicine, space exploration, technology, environmental engineering, automotive design and allied fields. POPULAR MECHANICS is a well-known and much anticipated magazine, and these awards are sought after as a sign of innovation and acceptance. Goodyear secured the award through its progress in the field of Air Maintenance Technology (AMT).
The award winners will receive full coverage in the November issue of POPULAR MECHANICS that will be available for perusal and purchase on newsstands by October 16, 2012. The gala awards ceremony was held on October 4, 2012, at an invitation only conference in New York City. Goodyear was one of the few companies to receive this prestigious award and recognition.
Air Maintenance Technology (AMT)
Goodyear’s Air Maintenance Technology vows to enhance the driving performance of any vehicle using Goodyear tires. Through this technology, the air pressure in the tires can be maintained at an optimum level, thus ensuring that the ride is smooth. This measure also vows to be a cost effective one when it comes to the amount that an average car owner spends at the fuel pumps. Underinflated tires cause plenty of problems and, per governmental and industry expert research studies, underinflated tires can be proved to be the reason behind decreases in fuel economy of 2.5% to 3.3%. The AMT system is set to change all this.
About the Goodyear Tire & Rubber Company
Goodyear is one of the world’s most well-known and avant-garde tire companies. It is also one of the largest tire companies across the globe. Its presence is spread across 22 countries in as many as 53 facilities all over the world. This award will only add to the authenticity and technological recognition that this company receives.
Market Movement
With market capitalization of just over $3 billion, Goodyear is a mid-cap stock that analysts claim is “on fire” right now. As of October 8, 2012, the share prices of the company’s common stock are recorded at $12.54 per share. In this session, the share value has actually dropped by $0.20 per share, or by about 1.6%. The share prices are within the average zone that the company has experienced in the last year.
Other mid-cap companies that are sailing in the same boat as Goodyear are integrated self-service delivery and security systems specialist Diebold (NYSE: DBD), trading at $33.70 per share, and Terex (NYSE: TEX), a global equipment manufacturer for industries like construction, mining, manufacturing and more. The share price for Terex as of October 8, 2012, is $23.72 per share.
