Carlstar selects new CEO

NASHVILLE, Tenn.—Newly renamed Carlstar Group L.L.C. has hired John Salvatore, a retired executive with BASF Construction Chemicals, as CEO. He succeeds Kevin Forster, who will remain on the board of directors and continue as a senior adviser to Carlstar's owner, American Industrial Partners.

Carlstar is the new name for CTP Transportation Products L.L.C., producer of Carlisle-brand of industrial belts, wheels and specialty tires for agriculture, construction, industry, outdoor power equipment, powersports, towables and trailers.

Salvatore brings 33 years of executive experience in the industrial sector as well as some familiarity with Carlstar, having been on the board of directors since mid-2014.

Salvatore retired two years ago as head of BASF Construction Chemicals Americas, where he was responsible for a business approaching $1 billion in annual sales. He also has experience with Evonik Degussa Corp. and Harris Specialty Chemicals, among others, Carlstar said.

Dino Cusumano, partner of American Industrial Partners, praised Salvatore for his long history of leadership and accomplishments in the industrial economy in a statement.

Salvatore said in a statement he's looking forward to working with Carlistar as it continues to grow and innovate in support of its customer's objectives.

Cusumano also thanked Forster for his “significant contributions to Carlstar's growth and success” over the past four years, including his role in successfully carving the business out of Carlisle Corp. and creating a stand-alone business.

“Carlstar is performing very strongly today and is well positioned for the future,” Cusumano said.

Forster was named president of Carlisle Companies Inc.'s Transportation Products business in mid-2011 and continued to lead the business after AIP acquired it from Carlisle in 2013.

Carlstar's product lines include Carlisle and ITP brand tires, Cragar, Black Rock, ITP and Unique brand wheels and Carlisle and Ultimax brand belting.