LAS VEGAS—Several attendance records were set at this year's International Tire Expo, Nov. 2-5 in Las Vegas, the Tire Association of North America has reported. Attendees also learned that TANA is in very solid shape financially and well on its way to retiring its long-term debt.
ITE sets records
A record 5,099 tire industry buyers attended the 1999 International Tire Expo, TANA announced.
Attendance at this year's ITE was up 9 percent over the 1998 show, TANA said, and increased 23.4 percent over the 1997 show.
More than 10,000 people attended the show, but TANA said it counts only buyers (managers who make buying decisions) in tire and wheel businesses and not exhibitors, spouses or others in its official attendance.
The 140,000-sq.-ft. exhibit area was 40 percent larger than last year, TANA said, and the American Society of Association Executives now ranks the ITE/Specialty Equipment Manufacturers Association event the 20th-largest trade show in the world.
TANA also said overall attendance at four special events—the opening reception and three breakfast programs—rose 11 percent, while average attendance at TANA's tire track seminars also set a record.
In the black
At TANA's 79th annual meeting Nov. 2, Treasurer Bill Mayo issued a glowing report on the association's financial status—in stark contrast to three years ago.
Among the highlights of Mr. Mayo's report: TANA has operated for 11 consecutive quarters without drawing on its reserves; exhibit space for ITE sold out months early for the third year in a row; and TANA's net worth increased 9.6 percent to $757,745 in fiscal 1998 over the previous year.
Purchases using TANA's private-label credit card exceeded $50 million for the first time, Mr. Mayo said, and the association has retired 70 percent of its long-term debt in the last three years.
Increased use of technology and reduction in full-time staff by 40 percent since 1996 also were partly responsible for TANA's revenues exceeding expenses by $24,724 in 1998, Mr. Mayo said.