LIVE AT SEMA: First Tire Industry Honors a Huge Hit
TIA’s latest twist – the first Tire Industry Honors program – proved to be a well-placed bet as a full house honored six new hall of fame inductees, the new TIA president and industry award winners. Developed as a replacement for the Breakfast With the President program, the Tire Industry Honors event was well received
Eighth-Graders Push for Eco-Friendly Tire Weights
Cedar Rapids Gazette – No one told Mike Brown to stop using lead wheel weights. He did because it made sense. Brown, owner of Iowa City Tire and Dodge Street Tire, phased out the use of lead weights earlier this year, replacing them with steel versions. Wheel weights are clipped to tire rims to balance
WRAP to Launch Tyre Crumb Quality Protocol
According to Waste & Resources Action Programme (WRAP), the publication of a new Quality Protocol (QP) and certification scheme will help to drive the market for rubber crumb and shred derived from used tyres. Mervyn Jones, joint project executive and head of manufacturing at WRAP told Tyres & Accessories the Quality Protocol will assure material
Schaeffler Debt Deal Puts Continental Within Reach
(Reuters) Schaeffler announced a 12 billion euro ($17 billion) refinancing deal on Tuesday that eases the German ball-bearing maker’s debt problems and moves it a step closer to merging with Continental AG.
Goodyear Contract Talks Extended
(Fayetteville Observer) Bargaining teams for Goodyear Tire & Rubber Co. and the United Steelworkers of America have agreed to another extension as they work toward a master contract.
Continental AG Cap Hike Passes, CEO Under Fire
(Reuters and other reports) The soap opera that has been Schaeffler Group’s ownership of Continental AG continues to take new turns, with Reuters now reporting that Conti’s CEO is being forced out and Schaeffler wants to unload the company’s rubber group.
Conti Board to Vote on Capital Hike
(Reuters) Faced with a 3.5 billion euro ($4.97 billion) tranche of debt due next August, Continental AG plans to raise fresh equity to plug a hole in its balance sheet, three sources familiar with the matter told Reuters on Tuesday of last week.
Schaeffler Appoints Houlihan Lokey as Advisor
(Reuters) Schaeffler said on Tuesday that it had appointed investment bank Houlihan Lokey as an adviser to help it restructure its finances.
Schaeffler in Talks Over Chinese Funding: Magazine
(Reuters) German ball-bearing maker Schaeffler is in talks with Beijing over a stake sale, German magazine WirtschaftsWoche reported on Saturday.
Is There Still Room For Small Independents? YES!
By this time, most small independent tire dealers in the U.S. are tired of hearing how bad the economy is. Those who are experiencing a downturn in business are forced to deal with it, and those who are progressing don’t believe it.