Cicero to lead Denman Tire
LEAVITTSBURG, Ohio-Manny Cicero, president of Bridgestone/Firestone's off-the-road tire group, was named president and CEO of Denman Tire Corp., effective May 1.
Mr. Cicero replaces Charles Wright, who previously announced his retirement.
Mr. Cicero joined BFS in 1984 as territory manager for metro New York following various positions at Michelin North America Inc. beginning in 1978. He was named president of the OTR group for BFS in 1999.
``Manny brings to Denman an enormous amount of experience and proven success in the specialty tire market and will be instrumental in moving the company forward,'' said Sanford Pensler, president of Pensler Capital Corp., Denman's owner. ``Through Manny's leadership, it is our desire to become the premier provider of high quality specialty tires.''
Tire makers plan price increases
AKRON-Goodyear and Yokohama Tire Corp. announced price increases on their commercial tire lines while Michelin North America Inc. plans to raise its prices on passenger and light truck tires.
Goodyear said it will increase the price of Goodyear, Dunlop and Kelly commercial tires by up to 6 percent, effective May 15. Private brand prices also will be affected.
Yokohama indicated it will raise prices by 5 to 6 percent on its truck and bus and light truck commercial tires, effective June 1. Detailed pricing will be provided to dealers before the actual increase, Yokohama said.
Michelin's increases of up to 8 percent will be effective in July. They will apply to original equipment and replacement tires in the Michelin, BFGoodrich, Uniroyal, private and associate brands sold in Canada, Mexico and the U.S.
The companies cited rising raw material and other costs.
Casalbore leaves Cooper Tire
FINDLAY, Ohio-Carl Casalbore, vice president of marketing and retail sales for Cooper Tire & Rubber Co., left the company effective April 11.
A Cooper spokesman said Mr. Casalbore ``chose to pursue other options.''
Mr. Casalbore joined Cooper in 1999 following a 20-year career with Pirelli Tire North America Inc. Last April he was named to his most recent title after serving as vice president of retail sales and high performance tire development since 2002. In that post he was responsible for overseeing the development of Cooper's high-performance products.
When he first joined Cooper, he was director of Pirelli sales during the period when the two tire makers had a joint sales and marketing arrangement.
Goodyear wins insurance payout
AKRON-Goodyear in the second quarter will receive $22 million from an insurance settlement for asbestos and pollution-related claims filed by the tire maker.
Goodyear said the $22 million will be paid by Lloyd's Underwriters, reinsured by Equitas Ltd. The tire maker added that Equitas plans to place $39 million in a trust fund that can be used to reimburse Goodyear for costs it incurs to resolve certain asbestos claims.
If federal asbestos litigation legislation is enacted before Jan. 3, 2007, Equitas may have the right to some or all of the funds in the trust. If no legislation is enacted, the remaining funds will be paid to Goodyear.
Specific terms of the April 13 settlement are confidential, but the payments to Goodyear are in exchange for a complete termination of the underwriters' obligation under the pre-1993 policies.
Anti-counterfeit bill goes to House
WASHINGTON-The House Judiciary Committee has agreed by voice vote to report an anti-counterfeiting bill to the full House.
The Stop Counterfeiting in Manufactured Goods Act, supported by virtually the entire automotive aftermarket, would strengthen current anti-counterfeiting laws by mandating the destruction not only of the goods themselves, but also the equipment used to make them. It also would prohibit counterfeiting of labels, patches, stickers and other items bearing trademarks. The bill currently has 59 House co-sponsors.
The FBI estimates that product counterfeiting costs the U.S. more than $200 billion per year, including at least $12 billion in auto parts.