MISSISSAUGA, Ontario-Airboss of America Corp., maker of segmented rubber tires for applications such as skid-steer loaders, is spending $3.8 million to purchase an unnamed rubber molding operation in the U.S. The acquisition will enable the company-previously known as IATCO Industries Inc.-to make the rubber segments for its tires, previously purchased from other molders, and will more than double Airboss' annual sales of about $7 million.
Oliver ups sales, earnings, capacity
CLEVELAND-Oliver Rubber Co. recorded improved profits in the second quarter of its 1995 fiscal year on a nearly 15-percent jump in sales to $30.4 million, according to its Cleveland-based parent, Standard Products Co.
Separately, Oliver said it has acquired a third press for its Athens, Ga., plant, which was to be in operation by the end of January.
The cost or amount of capacity increase was not disclosed, but Oliver said the addition could make the Athens plant the largest precured tread rubber manufacturing facility in the world.
Standard Products did not report Oliver's earnings for the period, ended Dec. 31, 1994, but said the tread rubber supplier ``posted stronger profits in its core business on a volume increase.''
Standard Products net income grew 16.1-percent to $5.33 million in the quarter as sales grew 22.9 percent to $243.8 million.
Two tire workers die in accidents
AKRON-Two workers-one at a Goodyear plant; one at a Continental General Tire Inc. factory-were killed in separate accidents in December.
Henry Wilson, an electrician at Goodyear's Gadsden, Ala., plant, was repairing a hydro thermal motor when the machinery exploded.
Mr. Wilson, 48, died instantly from a concussion caused by the force of the explosion, which ``sent (a) water heater through the air like a missile,'' according to James Frederick, United Rubber Workers industrial hygiene director.
In the other incident, John Brown, 49, was killed instantly when his head became caught in a tire curing press on which he was performing maintenance at CGT's Charlotte, N.C., factory, Mr. Frederick said.
The Occupational Safety and Health Administration is investigating the accidents, and the two companies are working with the URW to get information to other tire facilities ``to make sure similar situations at other plants don't turn into an accident,'' Mr. Frederick said.
Home Mechanix, a monthly home improvement magazine, named the BFGoodrich Comp T/A HR4/VR4/ZR4 line of tires one of 10 automotive aftermarket products to receive its 1994 ``Best Value Aftermarket Product'' award, based on price, value, innovation, longevity and performance.
Yokohama Tire Corp. said it has been chosen the official tire supplier to the United States Formula Ford 2000 National Championship for the next two years.
The 10-race, entry-level, open-wheel series features identical two-liter, single-seat cars racing on street courses and oval tracks and is jointly sanctioned by the Sports Car Club of America and the United States Auto Club.