PARIS-All tires are round and black, right? Well, they're all still round, at least. Michelin Group announced it is road testing its new Tonus tire-which literally is the color green-in Europe.
The company said it can now replace carbon black with silica and ``a special chemical process'' to retain the typical tire qualities. Silica, however, can be colored.
Initially, the Tonus is being released in size 175/70R13, but Michelin said it might one day ``be in a position to offer its full tire range in different colors.''
CLEARWATER, Fla.-Using it's combined $1 billion in buying power, the Private Brand Tire Group has negotiated a national account program with Office Depot and its merger partner, Staples, to provide office supplies to its members.
The deal allows dealers participating in the programs of any of the Private Brand Tire Group's 25 members to buy office supplies at reduced prices, according to Don Dominguez, board member.
The national account program with Office Depot marks the first common purchasing program for the Private Brand Tire Group, Mr. Dominguez said. But the group is investigating the possibility of entering into similar arrangements to purchase items such as oil and service trucks.
WASHINGTON-The House voted 408-0 on Sept. 5 to approve a bill to make it easier for small businesses to get loans.
Under the provisions of the Small Business Programs Improvement Act, the Small Business Administration will guarantee a lower percentage of loan amounts in its Section 7(a) and 504 loan programs.
This means both greater participation and greater risks in SBA loan programs for private lending institutions. Offsetting those risks, however, is more leeway for banks to collect on or liquidate SBA loans without agency approval.
While the Senate seems likely to pass the bill, there is no word on when the Senate vote will occur, a spokeswoman for the House Small Business Committee said.
PARIS-Carlos Ghosn, Michelin North America Inc. chairman, president and CEO, will join the Renault Group, with $36.5 billion in annual sales, effective Oct. 15.
Mr. Ghosn, who had been in his current position since 1990, will be appointed corporate executive vice president and serve as a member of the Renault Group executive committee, according to the Paris-based vehicle manufacturer.
Michelin appointed James M. Micali to succeed Mr. Ghosn as chairman and president.
ROMULUS, Mich.-Hayes Wheels International Inc. said it purchased Reliable Transportation Components Inc., a national warehouse distributor of automotive aftermarket wheels, on June 11.
The purchase will increase Hayes Wheels' sales and market share in the aftermarket, as well as boost its manufacturing volumes ``because Hayes Wheels will now supply the wheels for RTC's existing customers.''
Based in Dallas, RTC had annual revenues of about $3.5 million, Hayes said.
CLEVELAND-Sudbury Inc. announced it has rejected an unsolicited bid from Park-Ohio Industries Inc. to acquire the company for $11 per share, or about $170 million.
But the Cleveland-based company also said selling the company is one possibility it is considering in an effort to maximize shareholder value.
Sudbury, which is the parent firm of Iowa Mold Tooling, said it began in July ``to pursue contacts with various entities'' interested in buying the company.
``However, no decision has been made that a transaction with any company is necessarily in the best interests of Sudbury stockholders,'' the company said.