Pirelli to keep truck tire unit
MILAN, Italy-Pirelli S.p.A. has confirmed that its commercial vehicle tire operation is no longer for sale. This sector of Pirelli's tire business will in the future be headed by Alberto Pirelli and be based in Milan, Pirelli said.
Pirelli announced in August 2001 that it was putting the truck tire business, along with its energy cables business, up for sale as part of its move to take control of Telecom Italia and concentrate more on the telecommunications sector.
The truck Tire Business Staff Reported $790 million in sales last year, accounting for 31 percent of Pirelli's tire revenues.
Dealers take part in HeafNet Rewards
CHARLOTTE, N.C.-One year after launching its ground-breaking online rewards program for independent tire dealers, American Tire Distributors (formerly Heafner Tire Group Inc.) reports that more than 2,500 dealers nationwide are participating in its HeafNet Rewards program.
In celebration of the July 1 anniversary of the HeafNet Rewards start-up, the company will hold a sweepstakes for online users.
The sweepstakes will run through Aug. 31 and feature a grand prize of 1 million HeafNet Rewards points, which can be redeemed for airline tickets, travel packages, electronics, cameras, pool tables and other travel and merchandise gifts.
HeafNet users also earn points with each order placed. During the program's first year, users earned more than 13 million points, the company said.
BFS settles suits with plaintiffs
TOKYO-Bridgestone/Firestone, in an effort to put behind it the negative effects of the Firestone Wilderness tire recalls of 2000 and 2001, has reached settlements with more than 600 plaintiffs in recall-related court cases, according to Bridgestone Corp.'s top executive.
Writing in Bridgestone's 2001 annual report, Shigeo Watanabe, president, CEO and chairman, said the ``settlements to date have cleared up most of the uncertainty about potential liabilities,'' and that the company ``will continue to negotiate in good faith toward reaching settlements with the remaining plaintiffs.''
These actions together ``underlie our confidence in the adequacy of BFS's provisions for contingent liabilities and in the integrity of our earnings projection,'' Mr. Watanabe said.
Bridgestone took $858 million in charges against earnings during 2001 to cover recall-related costs.
Fountain Tire buys dealership
WINNIPEG, Manitoba-Fountain Tire Corp., one of Canada's largest independent tire dealerships, has just become larger. The Edmonton, Alberta-based company has purchased Winnipeg-based Chorney Tire.
The acquisition of the five-store chain increases Fountain's presence in Winnipeg to 10 outlets and moves the company's overall store count to 147.
``Chorney Tire has a proud history in Winnipeg and we're proud to carry on their tradition of integrity,'' said Brent Hesje, president of Fountain Tire. ``Continuing that tradition includes the people.''
The conversion of the five Chorney outlets to Fountain Tire stores will be completed during the summer, according to a joint press release from the two companies.
Goodyear debuts LT performance tire
AKRON-Goodyear has introduced the Wrangler F1 performance tire for light truck and sport-utility vehicles.
The company said the tire was inspired by the Eagle F1 ultra performance tire for upscale sports cars.
The Wrangler F1 features a V-shaped directional tread design, similar to that of the Eagle F1, the tire maker said. It is available in nine sizes (255/55R16 to 285/30ZR22) from 16- to 22-inch rim diameters. The new tire is H-, V-, or Z-speed rated. The 225/55R17 size serves as original equipment on the Audi All-Road Quatro.
The tire maker said the product is eligible for Wrangler Express distribution-a delivery system that rushes tires to customers nationwide. If a Goodyear retailer's Wrangler F1 is out of stock, the outlet can use the system to receive tires within two business days.