Less than stellar financial results have caused Carlisle Companies, parent of Carlisle Tire & Wheel, to rethink its continued involvement in the tire business.
The company has not set a specific plan for the unit, but stated that CTW was “not core to Carlisle’s growth strategy” going forward, and it has retained SunTrust Robinson Humphrey Inc. of Atlanta to assist in evaluating “strategic alternatives” for the unit. The “alternatives” most assuredly include the potential sale of the business unit, which includes its power transmission belting business.
Carlisle Companies started life in 1917 as Carlisle Tire & Rubber Co., in Carlisle, Pa. Over the decades, it shrunk its tire offering to small OTR, industrial, specialty and lawn/garden tires, grew in other business areas and moved its base to Charlotte, N.C.
No timetable was announced for Carlisle’s decision.