Across the Atlantic they are called tires, while over here we use a “Y” and say tyres. This tag provides the latest tyre business news emanating from the United States of America (USA), whichever way you spell it.
The 2015 North American Tire & Retread Expo was held at the Ernest N. Morial Convention Center in New Orleans between 15 and 17 April, 2015. Featuring 112 tyre, tyre retread, and tyre equipment and repair companies, the show attracted 1,041 registered visitors.
Cooper Tire & Rubber says its tyre factory in Texarkana, Arkansas has been certified as a gold level ‘Superior Energy Performance’ (SEP) facility by the US Department of Energy. The plant was recognised for implementing ISO 50001, and Cooper earned gold distinction by meeting the SEP programme’s additional standards, namely achieving a more than ten per cent improvement in energy performance over three years.
The Tire Industry Association (TIA) us officially opposing apparent tyre registration language in the “Generating Renewal, Opportunity, and Work with Accelerated Mobility, Efficiency, and Rebuilding of Infrastructure and Communities throughout America Act” or “GROW AMERICA Act” that was released on 30 March 2015. At the crux of the issue is the way which the it opens the possibility that independent tyre dealer must register who buys which tyre and send this information to the government at no cost to the consumer.
Amerityre Corp. has named Michael Sullivan who has been chief operating officer of the company since 1 December 2014 as CEO. The appointment took effect on 1 April 2015. In February, Amerityre, which makes industrial tyre products and polyurethane tyre technologies, reported that it cut its net loss by one-third in the quarter ended 31 December to $128,465 on sales of $1.35 million. This announcement marked the firm’s 78th consecutive quarterly loss.
US baseball team the Boston Red Sox has an official tyre, and that tyre is Toyo. Under a multi-year agreement, the tyre maker will be represented on signage at Fenway Park, home of the Red Sox, and holds the right to use the official tyre designation in its marketing.
Two men who profited from inside information regarding Apollo Tyres’ plans to acquire Cooper Tire & Rubber in 2013 have been charged by the US Securities and Exchange Commission, and parallel criminal charges have also been filed by the US Attorney’s Office for the District of Massachusetts. The SEC is now attempting to recover more than US$1.1 million made through the illegal trading of Cooper Tire stock.
As of 1 April, Joaquin Gonzalez Jr. has taken on the role of president at US tyre wholesaler Tire Group International. Prior to his appointment to this new role, Gonzalez served as the company’s chief marketing officer. He joined TGI in 2006 as chief operating officer.
Another innings of Nexen Tire baseball sponsorship is about to begin: The tyre maker has renewed its partnership agreements with four Major League Baseball (MLB) teams in the US. It will thus continue its relationship with the LA Dodgers, Texas Rangers, Detroit Tigers and the LA Angels for the 2015 baseball season.
The latest generation Lexus RX was introduced at the New York International Auto Show this week, and Michelin says it will supply its Premier LTX as an original equipment fitment to North American market versions of the RX that ride on 18-inch (tyre size 235/65 R18) and 20-inch (tyre size 235/55R 20) rims.
Shandong Linglong Tire has appointed John Hagan as chief operating officer of its Americas division. Previously, Hagan was national vice president for Kumho Tires USA, which he joined in 2013. Hagan brings with him 20 years of tyre industry experience. In addition to working for Kumho, he has held positions with Toyo Tires USA and Pirelli North America.
According to a progress update on the the Yokohama tyre factory currently being built in the United States, work on the approximately 1 million square foot (92,900 square metre) commercial vehicle tyre plant in West Point, Mississippi is on schedule and now nearing completion. Many of the key construction, equipment installation and job recruitment milestones have reportedly been reached on schedule, and the Yokohama Tire Manufacturing Mississippi facility is now on target to begin production in October 2015.
The first Formula E race to be held in the USA saw Nico Prost triumph at the end of a duel that had the 20,000-strong crowd spellbound right up to the very end. The streets of Miami were packed, with tickets everywhere sold out, while millions of fans around the world watched on TV, computer or smartphone.
Kumho Tire will finance the construction of its new one million square-foot manufacturing plant in Macon, Georgia, USA through bond issuance. Local news sources report that the Macon-Bibb County Industrial Authority agreed to issue bonds of up to $600 million for the plant in December. Kumho will sell up to $300 million of the total […]
No sooner had Shandong Deruibao Tire Co., Ltd. entered into apparent “restructuring” proceedings on 7 February then we at Tyres & Accessories started hearing about it on the grapevine (see page 40 for full coverage of this story). Of course, companies face difficulties in any business from time to time, but this case has particular resonance with many because it is emblematic of what is going in China. There are two things the market is interested in – what’s behind the pressures Deruibao are facing and what the knock-on effects will be.
The retired president of Boeing International has been elected to the board of directors of The Goodyear Tire & Rubber Company. Laurette T. Koellner, 60, spent 11 years with The Boeing Company in a variety of financial and business leadership roles. Post Boeing, she served as executive chairman of International Lease Finance Corporation, a subsidiary of American International Group, Inc. (AIG) until its May 2014 sale to AerCap Holdings.
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