North America Archives - Page 49 of 173 - Tyrepress

North America

Posts

TBC Corp to acquire Midas for $310M

US-based company TBC Corporation, which calls itself the country’s largest marketer of tyres for the automotive replacement market, has acquired automotive service provider Midas for approximately US$310 million. The all-cash transaction will see Midas shares change hands for $11.50 each, a price that represents a 75 per cent premium over Midas’ closing price of $6.58 on 11 August 2011, when Midas announced it would conduct a strategic review process, and a 28 per cent premium over the closing share price as of 12 March 2012. The proposed transaction has been unanimously approved by both companies’ boards of directors. In addition, Midas chairman, president and CEO Alan Feldman has signed a tender and voting agreement in support of the offer.

14th March 2012/by Tyrepress Editors

Cooper Tire teams up with The Weather Channel

Television viewers in the US, should they so wish, can enjoy weather-related information and entertainment around the clock courtesy of The Weather Channel. This themed content is naturally interspersed with spells of advertising, and Cooper Tire & Rubber will soon become a familiar name to those chomping on their breakfast toast and cereal after entering into a partnership with the broadcaster.

13th March 2012/by Tyrepress Editors

Advance tyres in US recall

GTC North America, US importer of the Advance tyre brand produced by Guizhou Tyre in China, is recalling almost 12,300 Advance Extra Grip AR215 light truck radials produced between September 2008 and 2009. The company says this recall applies to size P235/75R15 tyres and pertains to blistering or bubbles appearing on the tyre’s sidewall. A recall notice lodged with the National Highway Traffic Safety Administration states that these blisters or bubbles may, with extended use, lead to tread chunking on the tyre with belt edge exposure and possible loss of inflation.

12th March 2012/by Tyrepress Editors

US aftermarket tyre sales down in February

A report from analysts Morgan Stanley reveals that preliminary figures released by the US Rubber Manufacturer Association (RMA) show a decline in aftermarket tyre sales in February of passenger car, light truck and commercial truck tyres.

8th March 2012/by Tyrepress Editors

Sino Legend reaches out to European and American tyre makers

Sino Legend (Zhangjiagang) Chemical Co., Ltd., purportedly the largest Asian manufacturer of resins for the tyre and rubber industries, has begun showcasing its state-of-the-art production facility as it looks to establish a greater presence in North American and European markets.

The company broke ground on its Zhangjiagang City plant in mid-2007, located approximately 80 miles from Shanghai. Built with future global expansion in mind, the facility has already doubled its production volume owing to increased demand.

7th March 2012/by Tyrepress Editors

ATD central Illinois distribution centre approved

American Tire Distributors is building a new $6 million distribution centre in Illinois, reports Tire Review. Earlier this week, the Morton (Illinois) Economic Development Council voted unanimously to give ATD a two-year, 60 per cent property tax abatement in 2013 and 2014 to help it deal with soil problems on the 11-acre site selected for the new warehouse. Four other Morton taxing bodies must still approve the tax abatement, but it is expected to pass easily, according to local reports.

7th March 2012/by Tyrepress Editors

Vipal to show 3 new treads at Reifen 2012

Vipal – the leading Brazilian company in South America and one of the largest retreading and repair material manufacturers in the world – has shared details of its exhibit at this year’s Reifen 2012 show which will be held in Essen, Germany, from 4 – 8 June. In short Vipal will present three new designs of pre-cured treads.

6th March 2012/by Tyrepress Editors

Goodyear, CMA hike North America prices

Two further companies have announced higher prices for their North American customers. As of 1 April Goodyear will increase prices on all its consumer and commercial tyres by up to six per cent. The increase impacts all original equipment and replacement market Goodyear, Dunlop and Kelly brand tyres sold in the US and Canada.

6th March 2012/by Tyrepress Editors

Michelin confident of meeting ambitious objectives

In the last Michelin Annual and Sustainable Development Report that group managing partners Michel Rollier and Jean-Dominique Senard will jointly present, the two leaders of the French company commented on a 2011 punctuated by the start of the tyre maker’s new four-year business plan and rocketing commodity prices. For this year they share that growth is anticipated in emerging markets and North America, while Europe will most likely deliver more modest results. Rollier also expressed his “full and absolute” confidence in his successor, who is expected to take over sole leadership in May.

6th March 2012/by Tyrepress Editors

TGI adds Canada territory manager

Florida, US-based wholesaler Tire Group International has appointed Brett Romberg its new territory manager for Canada. TGI says Romberg’s new role can be viewed as part of the company’s development goals for the North American market. According to the wholesaler, Romberg has worked in varying industries and brings a significant amount of Canada-based commercial experience with him to this new role. “Brett is a welcomed addition to our ‘TGI family’ and his experience and skill set will help solidify our position in this market,” commented Orlando Delgado, senior vice-president of Sales and Marketing.

29th February 2012/by Tyrepress Editors

Yokohama extends orange oil technology to replacement market

Yokohama’s orange oil technology is hitting the replacement market in the US with the introduction of the Avid Ascend all-season tyre. The new range goes on sale 1 March and the initial line-up includes 45 sizes for 15 to 18-inch tyres in T, H and V speed ratings; suitable applications include passenger cars, crossover vehicles and minivans. Upon announcing the new tyre’s introduction, Yokohama Tire Corporation described the Avid Ascend as the first tyre “to collectively achieve – without compromise – exceptional all-season performance, remarkable tread life and excellent fuel efficiency.”

28th February 2012/by Tyrepress Editors

Update – Cooper Findlay labour agreement ratified

Almost three months to the day after the announcement of a lockout at Cooper Tire & Rubber’s Findlay factory in the US state of Ohio, agreement on a new labour agreement has been reached by the tyre maker and the United Steelworkers union. On 27 February Cooper announced that USW Local 207L has ratified a five-year agreement that covers some 1,050 union members at the Findlay plant. Union members voted 627 to 321 in favour of the agreement.

28th February 2012/by Tyrepress Editors

Goodyear launches Dunlop steer tyre in North America

The Goodyear Tire & Rubber Co has expanded its portfolio of Dunlop brand truck tyres with the new Dunlop SP348. The all-position steer tyre is designed for regional fleet, school bus, and pickup and delivery applications. It has a deep tread for increased longevity, a rugged casing design, enhanced shoulder ribs and stone ejectors in grooves.

24th February 2012/by Tyrepress Editors

Cooper workers agree second tentative contract

90 days after they were locked out of their jobs, workers at the Cooper Tire & Rubber Co. plant in Findlay, Ohio, have reached a second tentative contract with the tyre-maker, Tire Review reports. The agreement, which will be put to a ratification vote this weekend, was reached late on 23 February. The two sides had returned to the bargaining table on 20 February and have held lengthy sessions on each day since.

24th February 2012/by Tyrepress Editors

Deals reached between Cooper, unions

No need for undue excitement. An agreement has been ratified between Cooper Tire & Rubber and workers based in Findlay, Ohio – but they aren’t the locked-out workers embroiled in the fracas oft reported by Tyrepress.com over the past couple of months. The three-year contract with the US tyre maker involves truck drivers represented by the Teamsters union. Final approval of the new contract was given on 18 February.

21st February 2012/by Tyrepress Editors