DALLAS-Waste Recovery Inc. (WRI) has entered into a letter of intent to acquire Domino Salvage Tire Division Inc. of Conshohocken, Pa., during the first quarter of this year. Dallas-based WRI, North America's largest producer of tire-derived fuel, said it plans to invest about $500,000 in the Domino operation to boost the facility's scrap tire recycling capacity to 5 million passenger tire equivalents per year.
The acquisition should act as a stepping stone for WRI to open another facility in the Northeast, according to WRI President Thomas L. Earnshaw.
Don Olson employee
charged in tire theft
Don Olson employee charged in tire theft
FORT MYERS, Fla.-An employee of Don Olson Truck Tire Center in Fort Myers has been charged with stealing truck tires from the dealership and selling them at rates below the normal retail value.
Scott Allyn Bissey, 28, was arrested Feb. 6 after police set up a controlled buy of a set of tires. The department began its investigation after the dealership noticed a significant loss of large truck tires over a six-month period.
While the dealership couldn't state how many tires were stolen, police estimated the theft involved about $25,000 worth of new and retreaded tires.
O.K. Tire Stores Inc. moves into Quebec
LANGLEY, British Columbia-O.K. Tire Stores Inc. has signed its first dealership in Quebec, giving the Canadian cooperative 132 stores across the country.
The dealership, located in Notre-Dame-du-Nord, Quebec, will service a customer base in both Quebec and Ontario, according to O.K. Tires President Don Blythe.
Ghislain Bellehumeur, Ghislain Lemire and Madeleine Paquin own the facility.
Mr. Blythe said the cooperative is interested in expanding its coverage in eastern Canada, particularly in Ontario.
CGT still expanding Mt. Vernon capacity
AKRON-Continental General Tire Inc. is spending more than $8 million during the second phase of its five-year, $40 million commercial tire division capital expenditure plan.
The upgrade, which will target ``select production equipment'' at the company's Mount Vernon, Ill., truck tire plant, is expected to boost capacity 7-13 percent, CGT said.
The Akron-based tire maker said three more phases in the capital expenditure program will upgrade the plant's tire building facilities.
CGT marketing exec won't mkove to N.C.
AKRON-Walter S. Stashkiw, vice president of marketing for Continental General Tire's Passenger and Light Truck Division, resigned Feb. 3 as a result of the company's decision to move its headquarters from Akron to Charlotte, N.C., a company spokesman said.
An Akron native, Mr. Stashkiw said he is looking for a new employer. However, he does not necessarily have to remain in the Akron area, he added.
Mr. Stashkiw joined General in 1987 to manage the firm's telemarketing department. He was vice president, sales prior to being appointed to his most recent position in 1994.
Joe McCarthy, senior vice president of sales and marketing for the passenger and light truck division, will take over Mr. Stashkiw's responsibilities.
Credit card change help NTDRA dealers
WASHINGTON-The National Tire Dealers & Retreaders Association has added two new features to its Money Express credit card program. Dealers now can receive funds the next business day at no extra cost and reduce their processing rate to as low as 1.65 percent, the NTDRA said.
The 24-hour funds availability feature also is available for Money Express private label transactions at a 1.85 percent merchant discount rate.
The new discount rate is figured monthly, rather than annually, allowing dealers to receive lower rates during peak sales months, the NTDRA said.
The features are available for all Money Express and MasterCard/Visa transactions.
Kelly and Universal sign business pact
CUMBERLAND, Md.-Kelly-Springfield Tire Co. and Universal Cooperatives Inc., a custom brand distributor of farm tires, recently agreed to a 10-year business commitment.
The joint commitment will allow both companies to improve ``a flow of tire technology,'' and provide for high levels of inventory and service to each other and the farm tire consumer, the firms said.
Universal Cooperatives is Kelly-Springfield's largest farm tire account, according to Lee Fiedler, Kelly-Springfield's president and CEO.