Cooper raises earnings outlook
FINDLAY, Ohio-Cooper Tire & Rubber Co. said it expects its earnings for the quarter ended March 31 to be at least 50 percent higher than previously announced because of the effects of higher-than-expected sales this year so far.
Cooper, in a filing with the Securities & Exchange Commission, said its sales of tires in January and February increased by more than the 6-percent growth of industry-wide replacement tire sales in North America over the first two months of 2001.
Earlier Cooper had predicted first-quarter earnings of about 20 cents a share. By comparison, earnings in the first quarter of 2001 were 5 cents a share.
Goodyear taps new PR chief
AKRON-Goodyear has gone outside the tire industry for its new chief communications official.
Robert O'Leary, a former public affairs executive at Bacardi Ltd. and Mobil Corp., will become Goodyear's senior vice president of global communication, effective March 15.
He replaces John Perduyn, who retired from that post last November after a 36-year career at the tire maker.
Mr. O'Leary most recently served as Bacardi's vice president of public affairs and communication. Prior to that he was with Mobil as general manager of global public affairs.
He also has held public relations and advertising positions with Unisys Corp. and IBM.
Gray market sentencing due
MACON, Ga.-April 18 is the date for a Macon tire distributor and six individuals to be sentenced for their participation in a ``gray market'' scheme in which they tried to defraud the U.S. government of excise taxes due on medium truck tires.
Palmer Industries Inc., John Lenderman, Ralph Canney, Sergio Gonzalez, Raymond Garcia, Paul (Nat) Poston Jr. and Charles McCullough all pleaded guilty to various charges related to the scheme, in which tires purchased for overseas export were instead sold in the U.S.
Jimmy D. Lunsford, who refused to plead, was convicted Feb. 14 of conspiracy and four counts of filing false tax returns. He is scheduled for sentencing May 21.
O.K. Tire elects new chairman
LANGLEY, British Columbia-O.K. Tire Stores Inc. tapped Jean Trudel as chairman of the board during its annual conference in Phoenix.
The Langley-based firm elected Mr. Trudel after Al Santing, chairman of the board since 1989, chose not to seek re-election in order to pursue personal interests. Mr. Trudel operates an O.K. Tire store in Shawinigan, Quebec, and has been an O.K. Tire member since 1996.
Michelin to close Reno C3M plant
RENO, Nev.-Michelin North America Inc. plans to close its C3M-based tire plant in Reno by May 31 and consolidate C3M production in the U.S. at its Greenville, S.C., plant.
Michelin will keep open an 800,000-sq.ft. warehouse on the same site. The tire maker said the move was prompted by increasing demand for high-performance and sport-utility vehicle tires, and C3M is particularly suited to manufacturing such tires, which tend to be made in smaller lots that require more flexible production.
Michelin opened the plant in October 1997. The closing will affect 150 workers in Reno, some of whom will be offered jobs in the warehouse or in Greenville.
BFS supports Unser center
PHOENIX-Bridgestone/Firestone's racing program is supporting the Unser Children's Discovery Center, a planned interactive educational facility in Albuquerque, N.M.
When completed, the center will serve multiple roles as a museum and learning laboratory.
The center is the brainchild of four-time Indy 500 winner Al Unser Sr.
The Unser Children's Discovery Center will be located on Route 66 and Unser Boulevard in Albuquerque, N.M.