Goodrich, Coltec to complete union CHARLOTTE, N.C.—A federal judge has lifted a preliminary injunction that had blocked B.F. Goodrich Co.'s $2.2 billion purchase of seal maker Coltec Industries Inc.
The acquistion, announced Nov. 23, had been stalled by lawsuits from rival companies, but the company settled the last of them July 12.
Goodrich will move its headquarters from Akron to Charlotte and plans to change its name to Inrich Corp. after it completes the merger with Coltec.
Noting the company is dramatically different than it was 10 years ago, a spokesman said Goodrich has been reviewing a name change for more than two years. The company, which started the tire industry in Akron 129 years ago, sold its tire business in 1986 to Michelin North America.
Mitsubishi, Ford recall vehicles
WASHINGTON—Mitsubishi Motors Sales America is recalling 294,000 Galants, Eclipses and Spyders for inspection and possible replacement of lower lateral arm ball joints because of possible damage to the rubber boots on those joints.
The model years are 1995-96 for the Galants and Eclipses, 1996 for the Spyders.
Also, Ford Motor Co. is recalling 50,000 1999 Ford Expeditions and Lincoln Navigators with four-wheel drive and 17-inch chrome steel wheels.
Dealers will re-torque the wheel lugs, which may have insufficient wheel contact area with the hub and cause the tire and wheel to separate from the vehicle.
Pirelli Tire sells headquarters
NEW HAVEN, Conn.—Pirelli Tire North America has sold its headquarters building in New Haven and moved to smaller quarters in the city.
New England Development Corp., which acquired the building June 30, plans to build a mall around the structure, according to a Pirelli spokesman.
In recent years, Pirelli had used only two of six floors in the 198,000-sq.-ft. building, which was built in 1970 by the former Armstrong Rubber Co. Pirelli took over the site when it acquired the Armstrong Tire Co. in 1988.
About 85 people now work in the new headquarters, located on the fifth floor of a downtown New Haven office building. The address is: 300 George St., New Haven, Conn. 06536. Phone numbers remain the same.
Michelin, TANA give scholarships
GREENVILLE, S.C.—Michelin North America and the Tire Association of North America have awarded $20,000 in scholarships to three high school seniors.
The scholarship program consists of one $10,000 scholarship and two $5,000 scholarships awarded to employees of TANA member businesses. Michelin and TANA introduced the program in 1995.
Hankook gains Ford OE fitment
NEW YORK—Ford Motor Co. has selected Hankook Tire Co. Ltd. to supply a spare tire for the 2000 model year Ford Focus.
The fitment marks Hankook's first original equipment supply agreement with Ford. The tire is an S300 design high-pressure radial spare and will be fitted on vehicles assembled at Ford's assembly plant in Wayne, Mich.
Deadline July 31 for 'humanitarian'
AKRON—The final deadline for submitting nominations for Tire Business' sixth annual Tire Dealer Humanitarian Award is July 31.
The winner will receive a special medal and a $1,000 donation to the charity of his or her choice during the 1999 Tire Association of North America/Specialty Equipment Market Association show in Las Vegas Nov. 2-5.
To enter, use the form in this issue or call Tire Business at (330) 836-9180.