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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Goodyear Tire & Rubber Company (The)    GT

GOODYEAR TIRE & RUBBER COMPANY (THE)

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Goodyear Tire & Rubber : Vantage Data Centers Buys 50 Acres Of Land For New Data Centre Campus In Phoenix

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01/12/2019 | 06:30am EDT

Vantage Data Centers announced that it has acquired 50 acres of land in the Greater Phoenix area with new expansion plans to build a mega-scale data centre campus.

Phoenix represents the companys sixth data centre market, up from two markets 12 months ago, following its expansion into Northern Virginia and recently announced expansion into Montreal and Quebec City through the pending 4Degrees Colocation acquisition. The Phoenix campus will total 160MW of critical load and more than 1 million sq ft once it has been fully developed. It will be the largest of Vantages seven current and planned campuses when complete.

We continue to strategically expand Vantages footprint based on customer and market demands, said Sureel Choksi, president and CEO of Vantage Data Centers.

This newest development in the southwest is an ideal location for our customers due to its tax incentives, low power costs and rich connectivity.

Our strong sales pipeline is a testament that customers are attracted to our high-quality data centers with a focus on sustainable development and operational excellence.

The site which is located outside of Phoenix in the city of Goodyear, will be home to three data centres, to which the company mentioned that this expansion will offer Vantages current and future customers premium wholesale data centre space in a high-growth Tier I market, driven by demand from hyperscale and cloud providers, as well as technology, e-commerce and enterprise companies.

Design and entitlements are underway with construction expected to begin in early 2019. The first building will total 32MW of critical load and is anticipated to be online in early 2020.

We are excited Vantage chose Goodyear for its largest data centre campus to date, said Goodyears Mayor, Georgia Lord.

This innovative company leads the way in energy-efficient data centres, and they are changing the landscape of the West Valley to a forward-thinking focus. We welcome them to our growing cluster of technology-based businesses and foresee a great partnership emerging.

In addition to this, Vantage Data Centers signed a definitive agreement to acquire Canadian-based 4Degrees Colocation from owner Videotron for $200m, which is subject to some post-closing adjustments in December last year.

The company is yet to respond to Data Economy regarding the cost of the new 50 acres of land.

Elsewhere, Microsoft purchased around 260 acres of land in Phoenix for about $48m, which triggered speculations that it will build another mammoth data centre to serve its cloud business.

(c) 2019 Petra News Agency, All Rights Reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2019 15 634 M
EBIT 2019 1 085 M
Net income 2019 500 M
Debt 2019 4 915 M
Yield 2019 3,55%
P/E ratio 2019 8,35
P/E ratio 2020 6,01
EV / Sales 2019 0,58x
EV / Sales 2020 0,57x
Capitalization 4 162 M
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Mean consensus HOLD
Number of Analysts 11
Average target price 20,3 $
Spread / Average Target 13%
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Managers
NameTitle
Richard J. Kramer Chairman, President & Chief Executive Officer
Darren R. Wells Chief Financial Officer & Executive Vice President
Sherry Neubert Chief Information Officer & Vice President
Christopher Helsel Chief Technology Officer & Vice President
Jon Bellissimo Senior Vice President-Global Operations Technology
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