Morgan closes Tires Plus deal
CLEARWATER, Fla.—Morgan Tire and Auto Inc. completed its acquisition of Team Tires Plus Ltd. Aug. 8.
The Clearwater-based dealership had announced its intent to buy Tires Plus in July.
The combined company operates 540 stores, second to Penske Auto Centers in terms of number of independent North American retail outlets.
With Tires Plus, Morgan Tire has $745 million in annual sales with locations in 24 states.
TruckersB2B, FleetNet ink deal
INDIANAPOLIS—Truckers B2B Inc. has agreed with FleetNet America LLC to offer its members the opportunity to contract for road assistance through a special TruckersB2B toll-free number.
Truckers B2B is a business to business membership program that provides discounted tires, fuel, equipment and other products to small- and medium-sized trucking fleets.
Cherryville, N.C.-based FleetNet America is one of the largest road assistance companies in the U.S. and is a wholly owned subsidiary of Arkansas Best Corp.
"This program provides TruckersB2B Inc. members a service network of over 60,000 service providers to ensure prompt service and minimizing driver down time," said Oren Summers, FleetNet America president and CEO.
Celadon Group is the majority owner of TruckersB2B.
ESCO debuts new product line
BROOKSVILLE, Fla.—Equipment Supply Co. (ESCO) has introduced the complete Mondolfo Ferro line of passenger and truck tire changing and wheel balancing equipment.
ESCO is the exclusive importer of Mondolfo Ferro machines for the U.S. Mondolfo Ferro is the second largest European-style tire changer manufacturer in the world, ESCO said.
Goodyear buys stake in Cycloid
AKRON—Goodyear has bought an undisclosed minority interest in Cycloid Co., a producer of on-board tire monitoring and inflation systems for heavy-duty trucks and trailers.
Under the agreement, the two firms will commercialize continuous tire pressure monitoring and maintenance systems developed by Cycloid for passenger cars, light trucks, vans and sport-utility vehicles, Goodyear said.
Cycloid's air compressor system employs an inertia-controlled wheel-mounted compressor that uses its rotation to pump and maintain consistent tire air presssure.
The two companies have been working to develop an electronically enhanced version of the pump, as well as wireless communication and computing capabilities, enabling information on tire and transmission performance for future vehicle platforms.
Conti chief blasts tire-price cutting
HANOVER, Germany—Continental A.G. Chairman Stephan Kessel, bemoaning falling earnings in the company's European passenger tire operations, blasted his colleagues across the continent.
"The tire industry simply won't learn," he said in a prepared statement. "At the end of the day, all of us will have shed a lot of blood in the tire business, and market shares will still be the same."
Half-year 2000 pre-tax earnings by the European passenger tire group fell 23.8 percent, to $83.7 million, while sales rose 4.2 percent, to $1.18 billion.
Original equipment sales were up, but replacement sales were off somewhat, Conti said, and the increased costs of raw materials could not be passed on accordingly.
Goodyear unveils site for ATV tires
AKRON—Goodyear has redesigned its Web site for all-terrain tires to provide consumers with a complete list of the company's offerings in this segment.
The information includes available sizes and specifications for the Goodyear Tracker and Mud Runner tires. The site also features the Akron tire maker's new entry into the ATV tire market—the Rawhide ATT.
In addition, the Web site—located at www.goodyearATV.com—has two search functions to help ATV owners find the right tire for their vehicles. One function enables a search by tire size, while the other allows consumers to search by the make and model of their ATV.
"ATV enthusiasts are among the most knowledgeable tire buyers, so we set out to provide them with up-to-date technical information that is easily accessible," said Ed McMahon, marketing manager for Goodyear ATV tires. "The site is designed to answer their questions and keep them abreast of the latest developments regarding new tires or tire sizes."