AKRON-Following the lead of their competitors, Goodyear and Teknor Apex Co. are hiking prices on tread rubber and products because of rising raw material costs, effective Aug. 1. Goodyear's 3- to 4-percent hike will affect precure, cushion and rope rubber, strip and slab rubber, cements and solvents.
The company last raised tread rubber prices in March 1993.
Teknor Apex, of Pawtucket, R.I., declined to reveal how much it was hiking prices, saying the increases would vary depending on the content and type of rubber.
Goodyear and Teknor are the last tread rubber suppliers to hike prices.
Bandag Inc. led the latest round of increases in April followed by Oliver Rubber Co., Hercules Tire & Rubber Co., Paul Hawkinson Companies and Robbins Inc. in June.
Metro 25 expands into Florida market
DETROIT-Florida-based Consumer Car Care Tire and Auto Centers has joined Metro 25 Tire, giving the recently formed cooperative its first representation in that state.
Consumer Car Care, a new distributor and dealer cooperative based in Spring Hill, Fla., brings 18 dealers in the Tampa and St. Petersburg, Fla., areas to the Metro 25 program.
Goodyear expecting record profit level
AKRON-Goodyear is predicting record second-quarter income of between $158 million and $164 million compared with $137.6 million reported in the 1993 period, Chairman Stanley C. Gault said July 11 during an interview on Cable News Network's ``Moneyline.''
Second quarter sales are expected to be marginally higher than the $3 billion in the year-earlier period. Final second-quarter results were expected to be released July 25.
Goodyear plants were kept running near capacity as North American demand continued strong in both the original equipment and replacement markets, the company said.
Partly because of stronger earnings, Moody's Investors Service has upgraded the firm's credit rating. Moody's said the upgrade also reflected Goodyear's improved market share and lowered debt.
NTDRA forms club for industry retirees
WASHINGTON-The National Tire Dealers & Retreaders Association is forming a group for dealers, retreaders and others retired from the industry, including supplier companies.
The new Silver Club will provide its members with an NTDRA Dealer News subscription, NTDRA ``Who's Who'' directory, complimentary NTDRA convention registration and a metal membership card. Annual membership dues will be $15.
For more information, contact the NTDRA Silver Club, 1250 I St. N.W., Suite 400, Washington, D.C. 20005; or call Mike Tyrrell or Norma Tamok at (800) 876-8372.
Denman, URW local rach new contract
WARREN, Ohio -Denman Tire Corp. and United Rubber Workers Local 98 ratified a new three-year contract July 9 that raises production quotas and increases wages and pensions on a ``pay for performance'' basis, according to Scott Tackett, Denman director of human resources.
The Warren plant's 400 workers overwhelmingly agreed to boost the number of tires they must produce by 5 percent to maintain their current level of pay.
Goodyear to build Atlanta warehouse
AKRON-Goodyear plans to close its tire distribution centers in Charlotte, N.C., and Gadsden, Ala., consolidating operations in a new facility near Atlanta.
Construction of the 570,000-sq.-ft. warehouse in McDonough, Ga., is scheduled for completion in April 1995.
With a majority of outgoing shipments from the Charlotte and Gadsden centers headed east or south, Goodyear said the Atlanta location will provide more efficiency and reduce transit times.
Hoosier wins latest battle at Miller 500
AKRON-Hoosier Racing tire won its latest battle with Goodyear by capturing the top four places at the recent Miller Genuine Draft 500 at Pocono International Raceway in Long Pond, Pa.
Eleven of the 42 cars in the event were on Hoosiers, including race winner Geoff Bodine.
Rookie drivers Ward Burton, Joe Nemechek and Jeff Burton-Ward's brother-finished second, third and fourth respectively on Hoosiers. CUMBERLAND, Md.-Kelly-Springfield Tire Co. is working on producing a private brand bias light truck tire line for Wal-Mart Stores Inc.'s Sam's Club outlets, according to a spokesman for the Goodyear subsidiary.
Production dates and a name for the private brand line have yet to be determined, the spokesman said.