Michelin North America Signs Supply Agreement with Pilot Travel Centers
Michelin North America has signed an agreement to serve as a preferred supplier of Michelin and BFGoodrich commercial truck tires for Pilot Travel Centers, one of the largest interstate travel center operations in the U.S. Michelin North America has signed an agreement to serve as a preferred supplier of Michelin and BFGoodrich commercial truck tires for Pilot Travel Centers, one of the largest interstate travel center operations in the U.S.
Jeff Schuster Tapped to Lead Global Forecasting Department at J.D. Power; Dr. Wynn Bussmann to Retire in April
J.D. Power and Associates has named Jeff Schuster to lead its automotive global forecasting services department at the firm’s Troy, Mich., office. Schuster, who was recently promoted to senior director of North American Forecasting, has been with J.D. Power and Associates since 1996. In his new position, Schuster replaces Dr. Wynn “Van” Bussmann, who retires April 3. Bussmann, who has led Global Forecasting since joining the firm in July 2001, will be on a retainer and serve as an advisor for the forecasting business for the balance of the year.
Great Britain’s Automotive Aftermarket Holds Potential for U.S. Suppliers
Recent changes in market access regulations and similarities between consumers in the U.K. and U.S. make the $24 billion automotive aftermarket in Great Britain a potential sweet spot for U.S. suppliers.
Hankook Premiers New Corporate Identity Program
Hankook Tire Co. unveiled a new corporate identity program during a recent presentation at its headquarters in Seoul, Korea. The new look is the latest in a series of strategic moves to build the company’s global image as a leading manufacturer and marketer of tires.
Monro Names Valvoline Vendor of the Year
Valvoline has been named Vendor of the Year by the Monro Muffler Brake automotive service chain. Monro owns 600 stores in more than 18 states, operating under the Monro Muffler Brake and Service, Speedy Auto Service by Monro, Kimmel Tires-Auto Service, Tread Quarters Discount Tires and Mr. Tire brands. Valvoline has been principal lubricants and filter supplier to the Rochester, N.Y.-based chain since late 2002.
CSK and NHRA to Educate Youth on Dangers of Street Racing
CSK Auto Inc. and the National Hot Rod Association (NHRA) have joined forces to educate America’s youth of the dangers of street racing and the benefits of racing at licensed race tracks under controlled conditions. According to the National Highway Traffic Safety Administration, motor vehicle accidents are the leading cause of death for people aged 16 to 20. CSK Funny Car drivers Del Worsham and Phil Burkart, in conjunction with local police departments, are scheduling visits to high schools throughout the country to share their professional racing experience and offer firsthand knowledge of why drivers should “Race on the Track, Never on the Street.”
Jim Pearl Rejoins Denman Tire Corp.
James Pearl has rejoined Denman Tire Corp. as senior vice president of sales and marketing. Pearl worked for Denman for ten years prior to leaving in late 2002 to pursue other opportunities. Pearl will once again have overall responsibility for the sales and marketing functions and will be leading and coordinating the efforts of the sales and marketing department.
Titan Permanently Closes Natchez Plant; Considers Venture for Brownsville Plant
Titan International has reported that it will permanently close its tire plant in Natchez, Miss., and possibly pursue a joint venture with an unnamed party for its Brownsville, Texas, facility.
Exide Signs Exclusive Supply Agreement with TBC Corp.
Exide Technologies has signed an exclusive supply agreement with TBC Corp., one of the largest marketers of automotive replacement tires in the U.S. A significant new customer for Exide, the agreement with TBC includes the company’s recent acquisition of National Tire & Battery (NTB) from Sears, Roebuck and Co., which was completed in November 2003.
Restructuring Charges Drive Midas to a Net Loss of $76.2 Million in 2003
Midas reported a net loss of $76.2 million — or $4.93 per diluted share — for fiscal 2003, which ended Jan. 3. Midas said the loss is primarily the result $102.6 million in charges related to its restructuring, completed in April. As part of the restructuring, Midas exited its wholesale distribution business and refocused its resources on retail franchising and real estate businesses.