Cooper buys Hercules assets
FINDLAY, Ohio-Cooper Tire & Rubber Co. has finalized its purchase of certain assets of Hercules Tire & Rubber Co.'s retread operations.
Cooper acquired Hercules' retread assets for less than $8.5 million and will use them to foster growth of its tread rubber and radial medium truck tires.
More than 200 former Hercules retread customers now will have access to tread rubber products through the Oliver Retreading Systems and Products unit, which is a part of Cooper's new commercial division.
NHTSA probes fatal truck crash
WASHINGTON-The National Highway Traffic Safety Administration has opened an investigation into the alleged failure of tire pressure control system hoses made by Tire Pressure Control International Ltd.
The Florida State Police reported to NHTSA an accident in which an air supply hose to one of the tandem dual rear wheels on a tractor-trailer was damaged by contact with the wheel rim. The hose failed, the driver lost control of the rig while driving at 55-60 mph, and the truck went off the road and crashed, killing the driver.
The hose was part of a Redline-Eltek Tire Pressure Control System made by TPC, and NHTSA estimates about 1,000 tractor-trailers, model years 1997-2001, are outfitted with the system.
Ken Dick appointed TBC division chief
MEMPHIS, Tenn.-TBC Corp. announced the creation of a new private brands division and named Kenneth Dick as its president.
A 30-year veteran with TBC, Mr. Dick previously served as its executive vice president of sales.
Larry Day, president and CEO of the Memphis-based company, said the move ``strengthens our commitment to uphold TBC's position as the nation's leading marketer of private brand replacement tires.'' Mr. Day credited TBC's growth over the last several years to a strategic decision to focus on tires.
The newly created division will be responsible for the marketing and sales of TBC's proprietary brands, Multi-Mile, Cordovan, Sigma, as well as its newly acquired Vanderbilt/Turbo-Tech line. The unit also will be responsible for Fulda and Sonar, two brands for which TBC has sole North American distribution rights.
TBC said the division joins the company's other subsidiaries -Big O Tires Inc., Carroll Tire and Tire Kingdom Inc.- in having its own president and distinct marketing and operating presence within the corporation.
Bridgestone to remain in F1
MAGNY COURS, France-Bridgestone Corp. will continue ``as long as possible'' to supply tires to the international Formula 1 racing series, according to Chairman Shigeo Watanabe, speaking at a press conference prior to the French Grand Prix, where Ferrari's Michael Schumacher scored the 50th win for Bridgestone tires in the company's fifth season of competing.
Mr. Watanabe's comments came at a time when international media have been speculating that the financial dilemma posed by the company's recall problems in the Americas would cause Bridgestone to rethink its F1 racing program.
SEMA/ITE show sells out space
DIAMOND BAR, Calif.- It looks like another record year for the Specialty Equipment Market Association (SEMA)/International Tire Expo 2001.
Exhibit space has sold out for what the association is billing as the nation's largest automotive accessories show. The annual extravaganza-which will be held Tuesday, Oct. 30 through Friday, Nov. 2 in the Las Vegas Convention Center -will feature more than 1,200 exhibitors and more than 6,200 booths.
Because the annual show continues to grow, Diamond Bar-based SEMA is working with the Las Vegas Convention Center to add even more square footage for 2002, said SEMA President Charles R. Blum, noting the center is currently constructing two new halls that could bring the SEMA/ITE show almost 500,000 additional square feet.
The show currently encompasses more than 1.5 million square feet of floor space and is expected to draw more than 82,000 attendees.
Humanitarian award deadline nears
AKRON-Those wishing to nominate an individual for Tire Business' annual Tire Dealer Humanitarian Award have only days to do so.
July 31 is the deadline for submitting nominations. The award recognizes an independent tire dealer or retreader who has made a difference in his or her community.
The award recipient will be honored at the International Tire Expo, Oct. 30-Nov. 2 in Las Vegas.
To submit a nomination, call Tire Business at (330) 865-6148.