AKRON-Bridgestone/Firestone Inc., Dunlop Tire Corp., Toyo Tire (U.S.A.) Corp., Yokohama Tire Corp. and Denman Tire Corp. are the latest firms to announce tire price increases due to escalating raw material costs. BFS will raise prices 3 to 5 percent on most Bridgestone and Firestone replacement tire lines and 3 to 4 percent on all Dayton Tire Co. tire lines. All BFS price increases will be effective March 1, except for a few product lines that will go up in price April 1.
Dunlop will boost its prices 3 to 4 percent, Denman will increase prices 3 to 5.5 percent and Yokohama will hike Yokohama and Mohawk brand prices 3 to 5.5. percent, all on March 1, the three firms said.
Effective March 1, Toyo said its prices will rise 3 percent on passenger, light truck tires and tubes, 4 percent on off-road tires and OTR tubes, and 4.5 percent on truck and bus tires and tubes.
Kumho U.S.A. Inc. is reviewing the situation, a spokesman said.
NTDRA taps Wilson as general manager
WASHINGTON-The National Tire Dealers & Retreaders Association has appointed Don Wilson general manager of finance, administration and government relations, effective Jan. 1, replacing John Mamone, who left the association Dec. 20.
The NTDRA also said it will hire a director of finance to manage its day-to-day financial operations.
Mr. Wilson had served as the association's director of government relations since 1984.
Treadco's profits, sales climb in '94
FORT SMITH, Ark.-Treadco Inc. reported higher sales and profits for the year ended Dec. 31, 1994.
Treadco's sales climbed 24.2 percent over the year earlier period to $140.7 million in 1994, while net income rose 11.6 percent to $6.5 million from $5.8 million in 1993.
Operating margins, however, dipped to 7.9 during the year from 8.5 percent in 1993, according to President J.J. Seiter, who said a supplier's tread rubber price increase last October was difficult to pass on to customers.
For the quarter, earnings were flat at $1.92 million, despite an 8.9-percent increase in sales.
Bandag increases year-end sales 10%
MUSCATINE, Iowa-Bandag Inc. reported 1994 sales of $650.6 million, an increase of 10.2 percent over 1993.
Net earnings jumped 19 percent during the year to $94 million, up from $78.7 million.
Bandag said fourth-quarter sales of $183.6 million grew 14.2-percent; earnings rose 19.7 percent to $27.6 million.
30 tire companies join NTDRA show
WASHINGTON-Thirty tire manufacturers, private brand firms and distributors have committed to exhibiting at the National Tire Dealers & Retreaders Association's 75th Anniversary Convention and Trade Show in New Orleans, Oct. 11-14.
Those firms are: Alliance Tire Co., American Jawa, American Industrial Tire, Avon Tyres Ltd., Carlisle Tire & Rubber Co., Continental General Tire Inc., Coker Tire Co. Inc., Cooper Tire & Rubber Co., Dayton Tire, Dean Tire & Rubber Co., Denman Tire Corp., Dunlop Tire Corp., Dynastar International, Falken Tire Corp., Fleetwood Marketing, Gans Tire Co. Inc., Gillette/Peerless Tire Group, Goodyear, Greenball Corp., Hankook Tire America Corp., Industrial Tire Exchange, Jetzon Tire & Rubber Co., KRT Stomil, Kumho U.S.A. Inc., Michelin North America Inc., Nokia Tyres Ltd., Seyen International Inc., Shinko Tire USA, Taurus Rubber Co. Ltd. and Woosung Tire Corp.
URW boosts fund to support strikers
LAS VEGAS-The United Rubber Workers union voted Jan. 24 to hike the strike fund dues of its 94,000 members as of March 1.
The URW has spent $17 million in supporting 8,000 members during strikes since ended at Dunlop Tire Corp. and Yokohama Tire Corp., and on-going walkouts at Bridgestone/Firestone Inc. and Pirelli Armstrong Tire Corp.
Meanwhile, BFS and Pirelli continue to negotiate with URW officials concerning the union's latest contract proposals.
AKH Co. appoints new CEO, president
CITY OF COMMERCE, Calif.-AKH Co. Inc., doing business as Discount Tire Centers, has named Hratch Andonian as CEO and John Andonian as president, two positions previously held by founder Andy Andonian.
The two appointments allow Andy Andonian, who remains chairman of the board, to ``look into other ventures in expanding the company,'' the firm said.
The firm also said Ross Perian has been named vice president of operations.
Our Feb. 20 issue will include the annual ``Scrap Tire Special Report,'' with market data and a processing company directory.