NRI, Kinetics Noise Control ink deal
NRI Industries has signed a partnership with Kinetics Noise Control to co-market a sound control membrane.
NRI, a manufacturer of recycled rubber products, and Kinetics Noise, a designer of products that control sound and vibration, said the deal will open new markets for both companies in North America. The partnership will help round out Kinetic Noise's sound control product offerings for floors, walls and ceilings.
The firms will market and distribute the membrane under the brand names EcoSoundmat and EcoSoundmat High Bond.
Chemtura increases antitrust charge
Chemtura Corp. said its second-quarter earnings report included an additional charge of $3 million for antitrust costs on top of the $29.3 million of costs reflected in its Aug. 2 quarterly earnings news release.
The additional charge reflects ongoing settlement discussions that took place following that release.
BFS plans round of tire price hikes
Bridgestone/Firestone will raise prices in North America on its passenger, light truck, truck and bus, agricultural, and off-the-road tires Sept. 1 by up to 4 percent.
The price increase will affect all Bridgestone-, Firestone-, Fuzion-, Dayton-, associate- and private-brand tire lines in the replacement, original equipment and export channels.
``We are seeing an unprecedented combination of factors that simply cannot be managed through the enhanced efficiencies and increased productivity that we are continually implementing at all levels of our company,'' said Asahiko Nishiyama, vice chairman and president of Bridgestone/Firestone North American Tire L.L.C.
``With the cost of petroleum rising at unprecedented rates and natural rubber at record levels, we have no choice but to take this action.''
BFS last raised prices in North America on Nov. 1, 2005, by up to 8 percent.
GPX International secures credit line
Citizens Bank of Massachusetts and RBS Securities Corp. are providing a $160 million senior credit facility for specialty tire maker and distributor GPX International Tire Corp.
Malden, Mass.-based GPX said it is a longstanding customer of Citizens Bank, and is using the new credit facility to finance acquisitions and capital expenditures and to provide working capital for continued expansion.
Citizens Bank is the administrative agent and RBS is the sole lead arranger and bookrunner, according to GPX.
Michelin, Petro:Lube enter agreement
Michelin and Petro:Lube have signed a three-year agreement by which Petro:Lube will sell BFGoodrich commercial truck tires and Michelin Retread Technologies retreads.
Petro:Lube already sells Michelin tires at 60 service centers and is adding BFGoodrich tires and Michelin retreads on a store-by-store basis. Petro:Lube expects to have 65 locations selling these tires and retreads by year-end and also plans to open five locations per year, Michelin said.
Mitchell Rubber to sponsor Wheldon
Mitchell Rubber Products Inc. has signed a sponsorship agreement with Dan Wheldon, winner of the 2005 Indianapolis 500 and the 2005 Indy Racing League Indy Car Series Driver's Championship.
Mitchell Rubber Products, a rubber compound mixing company for the automotive, construction and agricultural industry, and Wheldon will work together on marketing initiatives and promotional campaigns surrounding Wheldon's racing in the IRL.
Brent Bush, sales manager of Mitchell Rubber Products, said the company was looking for a way to increase its business as well as mix in racing.