TBC store count climbs to 745
MEMPHIS, Tenn.-TBC Corp., which originally planned to add 40 retail stores in 2002, has expanded by 59 so far this year with still more to come.
``We now have a combined total of 745 Tire Kingdom and Big O retail locations, which should expand to at least 760 by the end of the year,'' said Larry Day, TBC president and CEO.
The increased number of store additions came, Mr. Day said, as a result of ``having some opportunities presented to us.''
These include the Memphis-based company's acquisition earlier this year of the Cleveland-based 19-store Mueller Tire & Brake chain and the purchase of nine Grandma's Tires retail locations and one combination commercial/retail outlet in Salt Lake City by a group of Big O Tires Inc. franchisees.
Mr. Day said TBC will continue to be active in acquiring stores next year.
Treadways Corp. to rename Laramie
EAST NORRITON, Pa.-The Laramie Tire division of Treadways Corp. will change its name to TreadXpress effective Nov. 1.
Treadways said the name change will more accurately reflect the division's new multi-brand marketing program.
The company recently ex-panded the distribution reach and practices of its Laramie division after agreeing to become a G3 Xpress wholesale distributor for Goodyear, taking on the Dunlop and Goodyear brands.
Besides Dunlop and Good-year, TreadXpress will feature Laramie brand tires as well as products from Sumitomo, Doral, Falken, Federal, Continental, Towmaster and other niche manufacturers.
Treadways said the program will give TreadXpress customers the maximum market coverage with a ``variety of well-established, winning products.''
A subsidiary of Sumitomo Corp. of America, Treadways also moved its corporate headquarters to East Norriton Sept. 20. The company can be contacted at (610) 615-8000 or (800) 895-1449.
Tire Rack moves Del. warehouse
NEW CASTLE, Del.-The Tire Rack has relocated its Newark, Del., warehouse to a new, 220,000-sq.-ft. facility in New Castle.
The company began shipping from the new warehouse, which features the same state-of-the-art systems as its South Bend, Ind. headquarters, on Sept. 23.
``This facility will allow us to continue to improve service to our customers in the Northeast and Mid-Atlantic regions,'' said Matt Edmonds, director of marketing. ``A few of the benefits that Tire Rack wholesale customers will be able to take advantage of as the facility ramps up are improved inventory, a broader selection of products in stock, faster shipping and improved quality control.''
Besides New Castle and South Bend, Tire Rack also operates warehouses in Shreveport, La., and Reno, Nev. It offers 14 tire brands and 20 wheel brands.
NHTSA gets RMA comments
WASHINGTON-A minimum tire pressure reserve standard, to no one's surprise, was one of the top issues the Rubber Manufacturers Association stressed to the National Highway Traffic Safety Administration in response to the agency's request for comments on safety rulemaking priorities.
Harmonization of global tire standards also was high on the RMA's list, as were other issues related to the Transportation Re-call Efficiency, Accountability and Documentation Act.
The RMA's concerns about a need for a minimum tire reserve standard-especially in the face of what it considers a faulty final rule on tire pressure monitoring devices-have been publicized in industry publications and in mainstream journals such as U.S. News & World Report.
China Ent. faces stock delisting
NEW YORK-The New York Stock Exchange has told China Enterprises Ltd. that trading of its common shares will be suspended Friday, Sept. 27, after its per-share price fell below $1 over a period of 30 consecutive trading days.
China Enterprises said it will appeal the decision and is exploring its options. China Enterprises stock (ticker symbol CSH) closed Sept. 23 at 50 cents a share, well below its 52-week high of $2.
The company previously submitted a business plan to the NYSE intended to bring its market capitalization into compliance with the exchange's minimal requirement of at least $15 million.
China Enterprises is a holding company for a number of joint ventures that make and market tires in China and other countries.