FORT SMITH, Ark.-Treadco Inc. was hit with a first-quarter net loss of $1.18 million, compared with earnings of $901,322 in the year-ago period, as it converted seven of its retreading plants from the Bandag Inc. process to the Oliver Rubber Co. system. Net sales for the quarter fell 5.1 percent to $32.1 million-retreading sales dropped 6.9 percent to $17.1 million while new-tire sales slipped 2.9 percent to $15.0 million.
Treadco attributed the loss to the plant conversions-the result of a dispute with Bandag-and competition with Bandag over Treadco's national accounts, some of which Treadco has retained at lower margins.
Mew Del=Nat remold is surprising success
MEMPHIS, Tenn.-Del-Nat Tire Corp.'s Desert Storm brand bead-to-bead remolded light truck tires are already a successful campaign.
``It's been quite a surprise,'' said Del-Nat Vice President of Sales Don Helker, referring to the demand for the tire that is currently outpacing production.
Del-Nat began distributing four sizes of its private brand Desert Storm remolds in April. The tires are made for the company by Ray Carr Tires of Harrisonburg, Va.
Del-Nat said it will add four more sizes by summer and P-metric sizes by the end of the year. Beyond this, the company has no plans to offer other types of remold tires, Mr. Helker said.
CTT offers early retirement plan
CHARLOTTE, N.C.-Continental General Tire Inc. is asking eligible salaried employees to leave the company voluntarily through retirement or resignation so the firm can reduce its costs.
The company's goal is for 150 of the approximately 900 eligible employees to accept the offer, according to Mike Polovick, CGT's human resources director.
If the voluntary reduction goal isn't met by the May 10 deadline, CGT will lay off some of its 7,200 North American employees.
TBC, Big O merger to be official by July
MEMPHIS, Tenn.-TBC Corp. has signed a definitive merger agreement to acquire all the outstanding shares of Big O Tires Inc. of Englewood, Colo.
Under the agreement, Big O stockholders will receive $16.50 a share, subject to final tabulation of transaction costs and other expenses. The transaction, approved by both companies' boards, is still subject to certain regulatory approvals and the approval of Big O stockholders.
The closing of the merger is expected within 60 days, the companies said May 2.
Sam's Club to 'lend' managers for a week
BENTONVILLE, Ark.-During National Small Business Week, June 2-8, Sam's Club will be lending its managers and merchandise representatives to small companies to provide extra support and gain insight into the needs of its business members.
Sam's Club outlets also will host free seminars and business fairs that week to help local businesses promote their goods and services to Sam's Club customers.
TRIB offers members money-back pledge
PACIFIC GROVE, Calif.-The Tire Retread Information Bureau is offering an ``unconditional money-back guarantee'' on dues to present and new members, retroactive to Jan. 1.
``We feel so strongly about the value of our membership benefits, we are willing to refund 100 percent of dues to any TRIB member who, at the end of a 12-month period, does not believe the cost of membership in TRIB was worthwhile,'' said TRIB Managing Director Harvey Brodsky.
TRIB plans to debut retreader directory
PACIFIC GROVE, Calif.-The Tire Retread Information Bureau plans to publish a Retread Tire Buyers Guide, listing TRIB-affiliated retreaders by location, in the U.S. and Canada, and type of retreads they sell.
TRIB said it receives daily requests from government fleets, companies and individuals on where to buy retreads. TRIB plans to distribute thousands of copies to government fleets on the federal, state and local levels, as well as offer the guide at trucking shows and environmental conferences.
Humanitarian award deadline is May 31
AKRON-May 31 is the deadline for submitting nominations for TIRE BUSINESS's third annual Tire Dealer Humanitarian Award.
The award honors an independent dealer or retreader who has made a difference in his or her community. Nominations submitted in past years can be renewed with a letter updating the nominee's activities.
The winner will be presented with a medal and a $1,000 donation to the charity of his or her choice at the 1996 National Tire Dealers & Retreaders Association convention in Atlanta, Sept. 5-7.
A nomination form is included on the back cover of this issue.