Three tire makers raise prices
Several tire companies are raising prices to balance raw material, manufacturing and transportation costs, all effective May 1.
Yokohama Tire Corp. will raise prices up to 7 percent on consumer tires, 3-5 percent on off-the-road tires, and up to 5 percent on commercial truck and bus tires. OTR tire price increases will affect all large bias and large radial sizes.
Continental Tire North America Inc. will raise prices up to 5 percent on its Continental, General, Semperit and private brand truck tires.
Goodyear will raise prices on its commercial tires-which applies to Goodyear, Dunlop and Kelly brands-up to 5 percent. Goodyear also raised prices on its tread rubber for off-the-road tires up to 5 percent, effective April 2.
Carlisle purchases Chinese firm
Carlisle Companies Inc. has completed its acquisition of Meixian Tengfei Tyre Co. Ltd., a Guangdong, China-based light truck and industrial tire maker also known as Meiyan Tire Group.
The purchase price was about $19.6 million, Carlisle said in its 10K filing with the Securities and Exchange Commission.
Meixian Tengfei will become part of Charlotte, N.C.-based Carlisle Tire & Wheel Co., which already operates one factory in China, in Shenzen in Buji Province.
Songwon names distributor
Songwon International Americas Inc. has appointed R.T. Vanderbilt its distributor in the U.S. and Canada for polymer additives for plastics and elastomeric compounds.
The agreement covers a range of products, including Songnox phenolic and phosphite antioxidants, Songlight hindered amine light stabilizers and Songsorb UV absorbers.
Parker Hannifin acquires Rectus
Parker Hannifin Corp. has acquired Rectus A.G. for an undisclosed amount.
Rectus employs about 380 at operations in Nussdorf, Germany; Randleman, N.C.; Skovde, Sweden, and several international sales offices.
Rectus revenues were about $115 million in 2006.
The firm-which manufactures quick disconnect coupling and related products for pneumatic, hydraulic, medical and chemical processing applications-will operate within the Industrial North America and Industrial International segments of Parker's global fluid connectors business.
Cooper-Standard buys Mexican firm
Cooper-Standard Automotive has completed its purchase of Automotive Components Holdings L.L.C's fuel rail operations at its El Jarudo, Mexico, plant.
Automotive Components was a Ford Motor Co.-managed temporary company formed in October 2005.
Automotive Components transferred its equity interest in Manufactura El Jarudo S. de R.L. de C.V. to Cooper-Standard along with related U.S. assets.
The Mexican plant employs about 450.
Three named top GM suppliers
General Motors Corp. selected three tire companies to receive the auto maker's Supplier of the Year awards.
GM recognized Bridgestone Corp., Continental A.G. and GITI Tire Group among 89 companies that received the award March 31 in Orlando, Fla.
In a statement, GITI Tire (USA) Ltd. said the company plans to invest in technology, people and processes to further increase its ability to be a top original equipment manufacturer.