INDIANAPOLIS—The Indiana legislature will consider a bill sponsored by the U.S. Tire Manufacturers Association that would ban the sale of unsafe used tires for road use.
The global tire industry almost saw another big merger in 2017, but there was plenty of other activity keeping firms busy in the year. From new investments to new structures, here are four of the biggest events within the tire sector.
Doublestar tries to buy Kumho
It looked for a moment another big-time tire merger was about to happen.
Doublestar Tire Co. Ltd. had agreed to acquire Kumho Tire Co. Inc. for about $830 million in March, but in September Kumho creditors rejected the deal after Doublestar allegedly asked for the price to be reduced by 16 percent amid disputes over trademark rights.
The deal is on thin ice as both sides were…
The U.S. Tire Manufacturers Association (USTMA), the national trade association for tire manufacturers in the U.S., anticipates that total 2017 U.S. tire shipments will decrease by less than one percent to 316.8 million units compared to 2016.
USTMA expects original equipment passenger tire shipments to decrease by 3.4 million units compared to 2016, while passenger replacement tire shipments are projected to increase by 0.8 million units.
On November 16, Michelin North America announced the retirement of Chairman and President Pete Selleck, effective Dec. 31, 2017, after six years in that role. His impact to the industry is praised and recognized by the USTMA among others.
Selleck is known for his dedication and service to the tire industry. Anne Forristall Luke, president and CEO of the U.S. Tire Manufacturers Association (USTMA), say Selleck “leaves a lasting legacy of visionary leadership” in the industry.
U.S. Tire Manufacturers Association (USTMA) has developed an online lookup tool to help consumers determine if a tire is subject to a recall conducted by USTMA members only. All USTMA members manufacture tires in the U.S.
The Fixing America’s Surface Transportation (FAST) Act requires the National Highway Traffic Safety Administration (NHTSA) to develop a tire recall lookup tool based upon Tire Identification Numbers (TIN) to enable consumers and tire sellers to determine whether a tire is subject to a recall. USTMA strongly supports implementation of this pro-consumer, pro-safety provision.
The NHTSA requirement would apply to all tire …
California plans to boost the tire-recycling rate by pushing for legislation with USTMA support. AB 509, sponsored by Assembly Member Jim Frazier, would change the current state tire recycling grant program into an incentive program to help expand the use of tire-derived material. The measure also includes a provision to give Cal Recycle, the state scrap tire regulatory agency, authority to impose an additional tire fee on tire dealers to cover program administrative costs.
New legislature that prohibits the sale of unsafe used tires in New Jersey has been sent to Gov. Chris Christie.
The bill (A 3896) would prohibit the sale of unsafe used tires that pose a risk to New Jersey motorists and impose a fine on a business that sells a tire that exhibits any one of several unsafe conditions such as worn-out tread, visible damage, or improper repairs.
AKRON — As recently as 2013, the market for new consumer vehicles in the U.S. was split 50-50 between cars and light trucks. But low gasoline prices and new products have combined since then to spur increasing demand for bigger vehicles.
Washington —Specific types of tire cord-quality steel wire rod, tire cord and bead wire should be excluded from a national security investigation of steel imports, the U.S. Tire Manufacturers Association told the U.S. Department of Commerce.
Domestic suppliers cannot meet the demand of U.S. tire manufacturers for these steel products, said Tracey L. Norberg, USTMA senior vice president and general counsel, at a May 24 Commerce hearing on the national security implications of steel…
NASHVILLE, Tenn., May 30, 2017 /PRNewswire/ — With the busy summer driving season fast approaching, Bridgestone Americas, Inc. (Bridgestone) is leading a nationwide safety campaign to encourage drivers to properly maintain their tires. The effort is one way the company is promoting National Tire Safety Week (May 28 – June 3), an industry initiative led by the U.S. Tire Manufacturers Association (USTMA).
“Enhancing mobility is a strategic priority at Bridgestone, and one fundamental to our commitment to serve our communities,” said Jim DeMouy, vice president of environmental, health, safety and sustainability, Bridgestone Americas. “Tire safety is a critical piece of smart and safe mobility solutions, which is why we are working to educate drivers of all vehicles about the importance of proper tire care and maintenance.”