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RMA forecasts U.S. could set mark for tire shipments in "16

WASHINGTON—Total U.S. tire shipments will exceed 315 million units in 2016, up 0.7 percent from 2015, according to the latest projections from the Rubber Manufacturers Association.

Replacement passenger tire shipments should reach 206.8 million in 2016, up 0.3 percent from 2015 and exceeding the record set in 2014, the RMA said.

“Steady economic improvement, low fuel prices and increases in vehicle miles traveled this year should create favorable conditions for growth in total U.S. tire shipments,” the RMA said in a March 9 release.

Original equipment passenger and light truck tires will see the highest percentage increase in shipments during the year, according to the association. OE passenger tires will see a 2.7 percent rise compared to 2015, to 51.1 million units, while OE light truck shipments will grow 1.8 percent, to 4.5 million.

Replacement light truck tire shipments will increase 0.3 percent, to 29.2 million, and replacement truck tire shipments will rise 1.1 percent, to 18.1 million, the RMA said.

OE truck tire shipments will fall 2.9 percent, to 6 million, but 2015 shipments of 6.2 million were the highest since 2006, the RMA said.

Cabot names new CEO

BOSTON—Patrick Prevost has stepped down as president and CEO of Cabot Corp. after eight years, the company said March 14.

The board of directors has appointed Sean Keohane to take over the positions and to be a member of the board of directors.

Keohane joined Cabot in 2002 and has held several key management positions, including senior vice president and president of the performance materials segment and, most recently, executive vice president and president of the reinforcement materials segment.

Prior to joining Cabot, Keohane worked for Pratt & Whitney, a division of United Technologies in a variety of general management positions.