Goodyear adds to pension plans
AKRON-Goodyear has contributed 11.3 million shares of its common stock to two of its domestic pension plans.
The shares were worth $140.8 million, based on the stock's closing price Sept. 13 of $12.46 per share, a spokesman said.
Although the tire maker wasn't obligated to make contributions to the pension plans this year, the infusion of shares addresses a chronic company problem with pension underfunding without affecting earnings per share, Goodyear said.
Goodyear said it has no plans to contribute shares to any other of its pension plans this year.
Caterpillar tires get Arnco filler
SOUTH GATE, Calif.-Arnco has entered into an agreement with Caterpillar Inc. to offer Caterpillar tires filled with Arnco's SuperFlex polyurethane flat-proofing material as optional equipment on all Caterpillar skid-steer loaders and select telehandler models.
Arnco said the decision was made after an extensive test and valuation period.
Caterpillar dealers and rental outlets can either fill the tires themselves, after purchasing pumping equipment and the SuperFlex material from Caterpillar, or can sell tires that are filled prior to delivery.
Cooper dealers to promote award
FINDLAY, Ohio-Cooper Tire & Rubber Co. will distribute advertising and point-of-sale materials to independent Cooper dealers to help them promote the company's recent J.D. Power and Associates award.
In Power's 2002 Replacement Tire Customer Satisfaction Study, Cooper tied with Michelin North America Inc. for first in light truck tires. The study took into consideration customer-driven measures including product quality, situational performance, long-term performance and design.
Cooper will provide dealers with a special poster, newspaper ad slicks, door decals, radio scripts and a counter card. The company also has created a 30-second TV spot called ``This just in,'' that highlights Cooper's Discoverer line of light truck and sport-utility vehicle tires.
The tire maker will air the spot exclusively during Cooper's September media schedule on 14 popular networks, including CNN Headline News and ESPN. A dealer version also will be available.
``All of these advertising aids are designed to help maximize the value of this recognition where it counts, at the retail point of sale,'' a Cooper spokeswoman said.
Kumho Tire joins TRIB
PACIFIC GROVE, Calif.-Kumho Tire U.S.A. Inc. has become the latest tire maker to support the Tire Retread Information Bureau.
``We are very pleased that Kumho has decided to support TRIB,'' said Harvey Brodsky, TRIB managing director. ``They, along with our other new tire manufacturer members, realize that TRIB's efforts on behalf of retreading benefit the entire truck tire industry.''
Pickups Plus signs supply pact
CINCINNATI-Swiss Caps, a Patriot, Ind., maker of caps and lids for the pickup industry, has named Pickups Plus its exclusive distributor in the southeastern states.
Under the deal, Cincinnati-based Pickups Plus will distribute and market Swiss Caps' products throughout Georgia, North Carolina, South Carolina, Alabama, Florida, Mississippi and Louisiana.
Pickups Plus, with four corporate retail stores and eight franchise outlets, is looking to become the first national truck and SUV accessories aftermarket chain.