Founded in 1915 by William O'Neil and his partner, Winfred Fouse, General Tire and Rubber Company was an outgrowth of Western Tire & Rubber Company. At the time, General Tire entered a market with over 300 competitors, but was determined to get a market share of replacement tire sales. The first tire that General Tire mass-produced was the General Jumbo, a pneumatic truck tire that was first in its class of tire. In the mid-1920's, General invented the General Balloon Jumbos, the first tire to only need 12 pounds of air pressure revolutionizing all tire manufacturing concepts. By 1955, General finally entered the passenger car replacement tire market. General Tire and Rubber Company changed their name in 1984 to GenCorp, Inc, before getting purchased by Continental AG of Hannover, Germany in 1987. Presently, General Tire is wholly owned subsidiary of Continental Tire North America, Inc and leads the pack in development, production, and marketing of quality tires for automobile applications.