TROY, Mich.-Kmart Corp. said it will sell its approx-imately 860 U.S. automotive service centers for about $112 million to Penske Auto Center Inc., a new corporation controlled by Penske Corp. In a Chicago Tribune story, Kmart said the centers' 1994 revenues were $360 million, but they were losing $13 mil lion to $19 million annually.
Supplier group calls for joint trade show
FINDLAY, Ohio-Three supplier groups affiliated with the National Tire Dealers & Retreaders Association have drafted a resolution calling for a single tire industry trade show by 1997.
The measure, sent to the NTDRA and the American Retreaders Association, said the show should alternate between Louisville, Ky., and Las Vegas. It asked that a committee be formed by Oct. 1 to explore the concept and develop a strategy.