Marangoni will expand capacity
LOUISVILLE, Ky.-Marangoni Tread North America Inc. (MTNA) will double production of Ringtread circular tread rubber at its Madison, Tenn., plant by August.
The capacity expansion, which was part of the plant's original design, was approved by parent Maranongi S.p.A. in early April, said Bill Sweatman, president of MTNA, and is ahead of the original schedule because of high demand.
Preparation work for the added equipment from Italy already has started, Mr. Sweatman said. The expansion is part of the $10 million Marangoni budgeted originally for the Madison plant, which started production last year.
The expansion coincides with the signing of four new Ringtread Systems plants as well as several accounts moving from trial runs to full commercial-scale purchases, he added.
Tread rubber shipments up
LOUISVILLE, Ky.-Shipments of tread rubber will grow in 2005 for the third consecutive year, according to the Rubber Manufacturers Association's Tread Rubber Market Analysis Committee.
Though overall economic growth is expected to moderate in 2005, strong demand for commercial tires will result in a 2.7-percent increase in tread rubber shipments for the year, the RMA said. This is nearly double the 1.5-percent growth seen in 2004. Continued expansion in the manufacturing sector and positive freight trends will sustain growth through 2007 at an annual rate of 1.5 percent.
Shipments in 2005 will represent approximately 17 million retreaded tires in the U.S.
Myers CEO resigns post
AKRON-Stephen Myers, CEO of Myers Industries Inc., has resigned and retired from his position effective May 1 with President and COO John Orr succeeding him.
Mr. Myers, who joined the company in 1967, will continue to serve as chairman of the board. He had served as CEO since 1984, during which time Myers Industries' revenues grew from $86 million to $803 million in 2004.
``After discussions with our board of directors, we decided that it was appropriate to transition CEO responsibilities to John Orr,'' Mr. Myers said. ``John has demonstrated strong leadership and business skills during his tenure with Myers Industries, and I share the board's confidence in his ability to provide the company with solid leadership.''
Mr. Orr has been president and COO since 2003.
He joined Myers Industries in 2001 after about 28 years with Goodyear.