TIA to open HOF nominations
BOWIE, Md.-The Tire Industry Association (TIA) is accepting nominations from May 1 until July 1 for the 2008 Tire Industry Hall of Fame.
The Hall of Fame is open to individuals from various areas of the tire industry, including manufacturers, inventors, publishers, equipment suppliers, association executives, dealers, recyclers and retreaders.
Nominees are evaluated based on criteria including contributions of new ideas, practices and innovations to the industry; exemplary service to the industry; and respect of their peers. Contributions to civic, cultural, educational or charitable endeavors are considered as secondary criteria.
Also during the same period, TIA will accept nominations for the Friend of the Industry Award, which recognizes well-known individuals who are not part of the industry but have offered it significant support. Hall of Fame inductions will take place Nov. 4 in Las Vegas, during TIA's Breakfast with the President, which is during the Specialty Equipment Market Association (SEMA) Show.
For more information, visit www.tireindustry.org.
Pirelli recalls light truck tires
WASHINGTON-Pirelli Tire North America L.L.C. is voluntarily recalling 8,273 light truck tires, Load Range E, size LT 235/80R17, produced between July 11, 2005, and Oct. 30, 2007.
These tires can suffer tread chunking, belt edge separation and partial tread separation, the company told the National Highway Traffic Safety Administration.
Two more join Cooper recall
WASHINGTON-Pro Competition Tire Co. is recalling 1,206 Pro Comp All Terrain Load Range E light truck tires, size LT265/75R16, and Hercules Tire & Rubber Co. is recalling 2,005 Terra Trac A/T tires with the same size and load range as the Pro Comp tires.
All these tires are part of the larger recall of 48,037 light truck tires announced earlier by Cooper Tire & Rubber Co., according to letters Pro Comp and Hercules sent to the National Highway Traffic Safety Administration.
JK Tyre buys Mexico's Tornel
MUMBAI, India-India's JK Tyre & Industries Ltd. has purchased Mexico's Compania Hulera Tornel S.A. de C.V. for $68 million.
The company said it aims to expand in the Americas and gain access to the North American market.
Tornel operates three plants in Mexico, two in Mexico City and the third in Tultilan.
Titan, Deere sign agreement
QUINCY, Ill.-Titan Tire Corp. has signed a three-year agreement with Moline, Ill.-based Deere & Co. to supply its line of farm tires to various John Deere affiliates.
Maurice Taylor Jr., Titan chairman and CEO, said Deere's concern over possible supply problems prompted the agreement between the two companies. The value of the contract should exceed $100 million in its first year, he said.
Quincy-based Titan Tire, a subsidiary of Titan International Inc., will supply Deere with every kind of farm tire, but it did not specify models or sizes.
Pep Boys sells 23 properties
PHILADELPHIA-Pep Boys-Manny, Moe & Jack has completed sale/leaseback agreements on 23 of its locations, generating proceeds of $74.3 million that will be used to repay debt.
The Philadelphia-based retail automotive chain signed agreements to lease each of the properties for 15 years, with the option to renew each lease for four successive five-year terms, a company spokeswoman said. Rent payments on the locations will be approximately 7.5 to 8 percent of the gross proceeds from the sale, she added.
This is the third group of stores Pep Boys has sold and agreed to lease back in the past four to five months. It sold 34 stores in the fourth quarter for proceeds of $166.2 million and sold 18 more in February for $63.6 million.
It also closed 31 low-return stores during the firm's fourth quarter, ended Feb 2.
Are you green?
How ``green'' is your dealership?
Tire Business wants to know what tire dealers, retreaders and wholesalers are doing to make their operations more environmentally friendly. Does your dealership use compact fluorescent (CFL) light bulbs? Have you changed delivery routes to conserve fuel? Reduced the amount of waste your company generates or simply been more mindful of power usage?
Whatever your efforts, let us know. The July 7 issue of Tire Business will publish a collection of ``green'' reports. Contact Managing Editor Sigmund J. Mikolajczyk at (330) 865-6130 or [email protected] to share your story.