Goodyear Canada plant to expand AKRON-Goodyear plans to invest $16.4 million to increase production of radial passenger tires at its Valleyfield, Quebec, plant.
The project will include a 23,000-sq.-ft. addition and new equipment and result in a 10-percent increase in production capacity at the plant, Canada's largest tire factory with a current capacity of 21,000 units per day, according to TIRE BUSINESS estimates.
The project will add 50 employees to the 1,300-person Valleyfield work force and be fully on line by March 1996.
Goodyear Vice Chairman and COO Hoyt Wells said the Valleyfield addition is one in a series of ``mini-expansions'' that over the past three years have added the capacity of one entirely new tire plant at less than half the cost.
NEW WHEEL PLANT SET FOR KENTUCKY
RANCHO DOMINGUEZ, Calif.-American Racing Equipment broke ground in December for a $40 million manufacturing facility in Warsaw, Ky., to produce wheels for the original equipment market.
The 150,000-sq.-ft. plant is expected to begin production in July and employ 230 people by 1997.
American Racing, based in Rancho Dominguez, is a subsidiary of Noranda Inc.
SUDBURY'S RESULTS CINTINUE TO RISE
CLEVELAND-Sudbury Inc., parent of Iowa Mold Tooling Co., a maker of bodies for tire service trucks, continued the record of improved financial results it has established since emerging from Chapter 11 reorganization in 1992.
For the three months ended Nov. 30 (the second quarter of its fiscal year), the Cleveland-based company reported a 6-percent increase in net earnings to $3.43 million on a 22.7-percent jump in sales to $74.4 million.
Pre-tax earnings were nearly twice those of the year-earlier quarter, but Sudbury incurred a tax liability of $1.97 million in the recently completed period, compared with a net tax benefit of $458,000 the previous year.
The company said IMT made ``significant gains'' in the quarter, but provided no specific figures.
Sudbury's first-half earnings leapt 30.8 percent to $5.64 million on a 23.3-percent rise in sales to $142.1 million.
TITAN BUYS ITALIAN WHEEL COMPANIES
QUINCY, Ill.-Titan Wheel International Inc., a maker of wheels and tires for agricultural and industrial uses, has purchased 50 percent of the common stock of Italy's Sirmac group for between $9 million and $10 million.
The Sirmac group of companies, comprising Sirmac, Sima and AGM, is a major European maker of specialty wheels and other products for the agricultural and construction markets. Its 1994 sales reportedly were about $70 million. Titan has an option to purchase the remaining Sirmac shares.
Recently certified under ISO 9000 quality standards were:
Goodyear's Danville, Va., truck and aircraft tire plant;
Woosung Tire Corp. of Seoul, South Korea; and
Tenneco's Walker Manufacturing exhaust component plant in Marshall, MIch.