Modern Tire Dealer

APR 2019

Magazine for the professional tire industry

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Page 13 of 85

M T D A p r i l 2 0 1 9 12 N e w s / V i e w s Bites Federal hikes prices Federal Tire North America LLC increased the price of its tires by about 2.5% in North America on April 1, 2019. TIA seeks hall-of-famers The Tire Industry Association (TIA) is seek- ing nominations for the 2019 Tire Industry Hall of Fame. The deadline for nominations is July 8, 2019. Point S wins in Canada For the second straight year, Unimax Tire Ltd., the company that markets the Point S brand in Canada, has been named one of the Best Managed Companies in Canada. Goodyear cuts jobs Goodyear Tire & Rubber Co. plans to upgrade and automate two of its tire manu- facturing facilities in Germany to increase production of premium tires 17 inches and larger. But the modernization comes at a cost for workers — about 1,100 jobs will be eliminated. Washbish is outstanding John Washbish, CEO and president of the Aftermarket Auto Parts Alliance Inc., has received Northwood University's Outstand- ing Business Leader award. Wally promotes Sullivan Tire For the second straight year, Boston Red Sox mascot Wally the Green Monster is ap- pearing in Sullivan Tire Co. Inc.'s television commercials. Denso opens new DC Denso Products and Services Americas Inc. is investing $9.5 million to open a new distribution center in Jeffersonville, Ind., in the summer of 2019. Ford picks Michelin OE Ford Motor Co. will equip two versions of the 2020 Explorer sport utility vehicle (SUV) with Michelin brand tires featuring self- sealing technology. The Michelin SelfSeal tires will be in size 255/55R20. BCA rewards distributors NTN Bearing Corp. of America is rewarding warehouse distributors who place $10,000 orders of BCA Bearings products through June 15, 2019. C hinese tire company Prinx Cheng- shan (Shandong) Tire Co. Ltd. has broken ground for a new manu- facturing plant in ailand. Production is slated to begin in mid-2020. e plant will produce 4 million semi- steel radial tires (PCR) for pas- senger cars and 800,000 all-steel radial tires for trucks and buses (TBR). e ini- tial stage of the plant is expected to require an investment of n e a r l y $ 3 0 0 million for the construction of infrastructure. The new plant is the first overseas factory for Prinx Chengshan, which has one manufacturing facility in China with an annual production capacity of 4.6 million truck and bus tires and 6.5 million passenger car tires. Prinx Chengshan says the new ailand plant will expand its global production capacity, enhance its international com- petitiveness, expand its product brand image and influence, and better meet the needs of overseas customers. e plant "is a major step for the expan- sion of Prinx C h e n g s h a n ," said Che Hong Zhi, chairman of t h e b o a rd of directors of Prinx Cheng- shan (Cayman) Holdings Co. Ltd. and chair- m a n o f t h e board of Prinx C h e n g s h a n (Shandong) Tire Co. Ltd. Investment in ailand "is an important step in forging Prinx Chengshan's internationalized brand. It is also a favorable exploration to deepen the good-neighborly and friendly relations between China and ailand, and promote the friendly economic exchanges between China and ailand." Prinx Chengshan breaks ground in Thailand Monro lands on the West Coast M onro Inc. has entered the California market with its purchase of Certified Tire & Service Centers Inc. e acquisition includes Certified Tire's 40 retail stores located in San Francisco, San Diego and Los Angeles and one distribution center in Riverside, Calif. e transaction is expected to close in the first quarter of fiscal 2020, and add approximately $45 million in annualized sales, representing a sales mix of 70% service and 30% tires. On a combined basis, acquisitions completed and announced to date in fiscal 2019 represent an expected total of $132 million in annualized sales. e acquisition represents entry into a new state for Monro and expands the company's geographic footprint to the West Coast. Monro will continue to operate all of Certified Tire's locations. e acquisition gives Monro a strong platform for further expansion, says Monro CEO and President Brett Ponton. Describing the region as dynamic and attractive, he said: "e diversification of our geographic footprint in California represents a key milestone in the execution of our growth strategy, and we look forward to capitalizing on future opportunities in this market." Certified Tire President Jeff Darrow said as his company has grown throughout California, "our priority has always been providing superior tire and automotive service to our valued customers. We are pleased to join the Monro family, which shares these core values and is committed to expansion and growth in our geography. I'm thrilled for what the partnership with Monro means for our exceptional employees and am proud to have selected an acquirer that will sustain the level of service that customers have come to expect from Certified Tire." Chinese tire maker Prinx Chengshan (Shandong) Tire Co. broke ground for a factory in Thailand on March 31, 2019. The plant will produce radial tires for passenger cars and trucks.

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