Continental posts $231 mill. loss
HANOVER, Germany-Continental A.G. fell $231.2 million into the red last year as the company took nearly $420 million in one-time charges against earnings to cover restructuring measures.
Continental Tire North America Inc. reported a loss after taking a $182 million charge to cover a factory closing in Mexico and other measures.
Corporate-wide Conti closed two other tire factories and a retreading plant in 2001, sold a tire retail chain in Great Britain and announced two plant closings for 2002.
Conti's sales for fiscal 2001 rose 11.1 percent to $10 billion, with the bulk of the growth coming from its automotive systems businesses. Tire segment sales were up 2.2 percent, largely on the strength of the European passenger tire business.
Continental Tire North America's sales fell 4.4 percent to $1.56 billion for the year.
Cooper names vp for retail sales
FINDLAY, Ohio-Cooper Tire & Rubber Co. has named Carl A. Casalbore its vice president of retail sales and high-performance tires.
His responsibilities include overseeing development of Cooper's HP products while managing the company's larger retailer groups and supervising Pirelli tire sales.
Mr. Casalbore was promoted from director of Pirelli sales, a position he held since joining Findlay-based Cooper in 1999. He previously spent 20 years with Pirelli Tire North America.
BFS sponsors cleanup efforts
NASHVILLE, Tenn.-The Bridgestone/Firestone Trust Fund is partnering with Keep America Beautiful Inc. (KAB) as a national sponsor of the Great American Cleanup 2002.
The tire maker's company-owned stores across the country will participate in locally organized cleanup, beautification and community improvement programs. The Great American Cleanup, which runs from March through May, is the nation's largest such beautification program.
Each year, more than 2 million volunteers from across the country pitch in to make their neighborhoods safer, healthier and more beautiful places to live.
Nashville-based BFS said its company-owned stores will be announcing local Great American Cleanup events in their stores via point-of-purchase displays to direct volunteers to the Keep America Beautiful Web site (www.kab.org).
Myers' income drops 36.7%
AKRON-Myers Industries Inc., parent company of Myers Tire Supply and Patch Rubber Co., saw its net income tumble 36.7 percent in 2001 to $15.2 million. Sales for the year fell 6.8 percent to $608 million.
For the fourth quarter ended Dec. 31, net income dropped 47.7 percent to $2.3 million as sales fell 13 percent to $148.5 million.
Myers reported that distribution segment net sales fell 6 percent for the fourth quarter and 5 percent for the year as independent tire dealers and other customers saw decreased demand for tire and allied services across the U.S.
``The economic decline that began in 2000 accelerated into a recession throughout 2001, particularly affecting our industrial markets,'' said President and CEO Stephen Myers.
Rohlwing editor of ITRA journal
LOUISVILLE, Ky.-Kevin Rohlwing, the International Tire & Rubber Association's training director, has replaced Marvin Bozarth as editor of the association's The Tire Retreading/Repair Journal magazine.
Mr. Bozarth, formerly ITRA's executive director before retiring in January, will continue with the monthly publication as a feature writer and will contribute articles on the latest technology and trends in the retreading industry. He also serves as ITRA's senior technical consultant.
Senate rejects stiff CAFE hike
WASHINGTON-After an acrimonious debate, the Senate rejected a bill that would have increased corporate average fuel economy (CAFE) for auto makers to 36 mpg by 2015.
Instead, it approved by a 62-38 vote on March 13 a milder bill that directs the Transportation Department to develop tighter CAFE standards but sets no specific numbers.
Auto makers and their suppliers were elated by the vote, but supporters of the tougher bill accused their opponents of using scare tactics and making motorists believe that a 36-mpg standard would effectively ban sport-utility vehicles and minivans.