Pirelli hiking car, LT tire prices
ROME, Ga.-Due to continuing increases in raw material and energy costs, Pirelli Tire North America (PTNA) Inc. said it is increasing prices for its passenger and light truck tires by 4.5 percent, effective Dec. 1 in the U.S. and Canada.
The move follows the announcement by PTNA's parent company, Pirelli S.p.A., that it planned to raise tire prices for car, light truck/sport-utility vehicle and truck tires 4.5 percent in Europe and North America and 6 percent for motorcycle tires worldwide.
Pirelli last raised prices in North America June 1, boosting them for passenger and light truck/SUV tires by 5 percent.
Conti debuts Gold dealer spiff program
CHARLOTTE, N.C.-Continental Tire North America Inc. is launching a rewards program for its Associated Gold dealers and distributors, dubbed ``Conti Super Spiff.''
The program offers a cash sale incentive that can be earned by selling select Continental and General brand tires during the program's period. Payments will be distributed to participating dealers through a Visa debit card that will be reloaded each time they report their sales to the program administrator.
``This unique incentive program supports both our direct and associate dealers and does not distinguish between wholesale and retail tire sales,'' said Andreas Gerstenberger, Conti's vice president of sales and marketing for the passenger and light truck replacement group.
The program, available via ContiLink, Conti's dealer extranet, ends Dec. 31.
Cooper withdraws 3rd qtr. guidance
FINDLAY, Ohio-Cooper Tire & Rubber Co. has withdrawn its guidance for its third quarter earnings, citing changing market and company conditions.
Cooper said on Aug. 2 when it reported its second quarter results that it expected to post earnings of 10 to 14 cents in the third quarter. The company reported a net loss of $7 million, or 11 cents per share, in the second quarter.
The Findlay-based tire maker's previous guidance for the third quarter included an 8-cent impact from the strike in Texarkana, Ark., earlier this year.
Cooper did not provide revised guidance. The company will report its third quarter results Nov. 8.
In withdrawing the guidance, the tire maker said some conditions changed from management's expectations at the time. The factors included: softer industry demand in the North American replacement tire market; lower than anticipated sales; changes in raw material costs; higher shipping and transportation costs; and higher energy costs.
On Oct. 6, Standard & Poor's downgraded Cooper's credit rating to ``junk'' status, citing poor near-term earnings and cash flow prospects.
STTC, employees help Katrina victims
BETHLEHEM, Pa.-Service Tire Truck Centers (STTC) and its employees together have donated $29,000 to disaster relief for Hurricane Katrina victims.
Dealership owners Ron Bennett, Walt Dealtrey, Ed Betz and Scott Bennett recently presented the check to the local chapter of the American Red Cross.
The company, which operates 21 locations throughout Pennsylvania, New Jersey, Delaware and Maryland, pledged to donate $5 for every $1 donated by its employees, up to a maximum of $20,000. STTC employees raised $9,000 and the company contributed $20,000.
STTC is marking its 50th anniversary this year.
Man arrested in dealer's murder
LANCASTER COUNTY, Pa.-Pennsylvania State Police have arrested a man who they say confessed to robbing and killing tire dealer Daniel Valverde of Mohnton, Pa.
Steven M. Musser, 30, also of Mohnton, was apprehended Sept. 28 in the murder of Mr. Valverde, 65, owner of Valverde's Tire in Brecknock Township, Pa. He has been charged with criminal homicide, robbery and several counts of related theft and is being held in Lancaster County prison without bail.
Mr. Valverde was found dead in one of the service bays of his store by a customer on the morning of Sept. 20.
Mr. Musser's arrest followed numerous tips from the public, according to state police officer Lt. Brian Naylor.
Mr. Valverde had been a tire dealer for about 30 years and was the sole proprietor of his store, which is now closed, Lt. Naylor said. A native of Bolivia, he had been active in fundraising efforts for an organization that provided scholarships to impoverished children in Bolivia.
Mr. Valverde is survived by his wife Bernice; sons Michael and Douglas; four grandchildren; and two brothers.