CTNA and ACCC Sign ‘Long Term’ Agreement
American Car Care Centers’ (ACCC) national network of more than 1,100 dealers will sell Continental and General branded tires as “primary choices of branded products,” due to a “long-term” agreement between Continental Tire North America Inc. (CTNA) and ACCC.
An Era to End at Ford: William Clay Ford Plans to Retire from Company Board
William Clay Ford, the last surviving grandson of Henry Ford, plans to retire from the Ford Motor Co. Board of Directors after nearly 57 years, the company announced Wednesday. Ford, who turns 80 Monday, is the father of chairman and CEO Bill Ford and has been on the board for more than half of the company’s history, elected before he even graduated from Yale University.
Toyo, CTNA Issue Recall Notices
Following Yokohama Tire Corp.’s recall of 69 medium truck radials produced by GTY Tire Co., a joint venture between Yokohama, Continental Tire North America (CTNA) and Toyo Tire USA Corp., both Toyo and CTNA have issued their own recall notices. All told, 142 tires are being recalled. Toyo is recalling 24 medium truck tires produced at the plant. CTNA issued a non-specific statement relating to the entire group of tires being recalled. However, the remaining 49 tires being sought are believed to be Continental and/or General brand medium truck tires.
Investcorp to Acquire American Tire Distributors
Investcorp, a global investment group, reached a definitive agreement today to acquire American Tire Distributors Inc. (ATD) from its majority shareholder, Charlesbank Capital Partners. Terms of the deal, which is expected to close in late March, were not announced. ATD is the largest independent tire distributor in the U.S., with 70 distribution centers in 35 states, servicing some 40,000 tire dealer locations across the country. Founded in 1935 as Heafner Tire Co., the company changed its name to ATD in 2002.
Industry Reaches Out to Tsunami Victims
Numerous automotive aftermarket industry associations and businesses have been reaching out to the victims of last month’s devastating tsunami in south Asia. The 8.9-magnitude quake hit December 26 off the coast of Indonesia, triggering extremely large waves that have brought massive flooding, damage and loss of life in the region. More than 140,000 are reported dead, with countless others left homeless and injured.
CTNA Suspends Tire Production at Kentucky Plant
Continental Tire North America Inc. (CTNA) has indefinitely suspended tire production at its Mayfield, Ky., manufacturing facility. CTNA said mixing and warehousing operations will continue.
AAIA Members Invited to AAPEX Seminar Series
American Express Tax and Business Services Inc. will kick off the AIA Seminar Series at AAPEX, by presenting the “Doing Business With China: How to Succeed” breakfast seminar on Tuesday, Nov. 2 at 7:45 a.m. at the Sands Expo Center (SEC) in rooms 303-304. This timely discussion of doing business with China will address in-bound logistical and tax planning considerations. Participants will learn about the economics of going to China, when to go and how to get there. Presenters will discuss the economics of new distribution channels and how to make them successful, as well as how to get the most out of setting up foreign operations from a U.S. tax perspective.
Santech Introduces A/C Market Index
Santech Industries, a provider of engineered replacement parts for the global automotive air conditioning market, has announced the creation of the Santech AC Market Index. Located on the www.santech.com Web site under the tab “AC Market Index,” the index tracks the hot weather patterns associated with the automotive air conditioning market. The first of its kind, the index allows comparison of the historical effect of the weather against business results.
Chief Executive Magazine and Edmunds.com Name Top Ten Cars for CEOs
While market share for U.S. automakers nears an all-time low, falling below 60 percent, the same companies are gaining ground in the high-end market. According to the second annual report on the best new vehicles for CEOs — sponsored by Chief Executive magazine and Edmunds.com, an online resource for automotive information — domestic vehicles fare better than their Asian competitors, while European automakers continue to dominate this part of the market.
Executive Interview with Steve Christie, Executive Director, Automotive Oil Change Association
Our latest edition of “Executive Interview” features Steve Christie, executive director of the Automotive Oil Change Association (AOCA). Christie has served as executive director of AOCA since 1992. With more than 20 years of progressive management experience in trade associations, professional societies and issue oriented organizations, Christie has led the AOCA to dramatic growth in membership and revenues during his tenure as head of the 1,200 plus member organization. Last week, Christie took some time to give us a ‘virtual’ tour of the AOCA, the services it provides as well as its plans for the future. Read on to learn more about the AOCA and the important projects on which the association is currently focusing.