MALVERN, Pa.-Twin Tire International Inc. will use a majority of the $1.55 million it garnered in the sale of 1.1 million shares of common stock to help market its Twin Tire system in the U.S. The Twin Tire has two separate tires mounted on a specially designed wheel. The concept made its U.S. debut about nine years ago in the replacement tire market, but it never caught on.
Twin Tire International, a subsidiary of Vancouver, British Columbia-based ATS Wheel Inc., is taking a different tack in its marketing approach, promoting the tire's safety features instead of its high performance capabilities.
The double tire offers good handling and traction on wet and snow-covered roads, and it reduces the risks associated with a single-tire blowout, according to Roger Cole, president of Twin Tire. Mr. Cole replaced Richard J. Miesen, who left the company.
Marketing will aim at ``safety-conscious consumers,'' Mr. Cole said. ``That group will range from Volvo and BMW drivers to owners of mini-vans with three kids.''