Tires & Rubber

Myers Industries Completes Acquisition of Signature Systems

Retrieved on: 
Thursday, February 8, 2024
General Automotive, Packaging, Retail, Engineering, Chemicals, Plastics, Manufacturing, Other Transport, Automotive, Transport, Other Retail, Other Automotive, Other Manufacturing, Tires & Rubber, Textiles, Honigman LLP, EPS, Wells Fargo, Acquisition, Investment, Growth, GAAP, JPMorgan Chase, Sater, J. P. Morgan, Loan

Myers Industries, Inc. (NYSE: MYE) (“Myers” or the “Company”), a leading manufacturer and distributor of industrial products, today announced that it has completed its acquisition of Signature Systems (“Signature”), which was previously announced on January 2, 2024.

Key Points: 
  • Myers Industries, Inc. (NYSE: MYE) (“Myers” or the “Company”), a leading manufacturer and distributor of industrial products, today announced that it has completed its acquisition of Signature Systems (“Signature”), which was previously announced on January 2, 2024.
  • “We are excited to welcome the Signature team to Myers with the closing of this transaction,” said Mike McGaugh, Chief Executive Officer of Myers Industries.
  • “This acquisition strengthens our growing portfolio of market leading brands, enhances our profitability profile and demonstrates Myers’ capability as a platform for acquisitive growth.
  • The financial results of Signature Systems are expected to be included within Myers’ Material Handling segment.

Monro, Inc. Declares Quarterly Cash Dividend

Retrieved on: 
Thursday, February 8, 2024
Aftermarket, Retail, Automotive, General Automotive, Tires & Rubber, Specialty

Monro, Inc. (Nasdaq: MNRO), a leading provider of automotive undercar repair and tire services, today announced that its Board of Directors has declared a quarterly cash dividend of $.28 per share on the Company’s outstanding shares of common stock, including the shares of common stock to which the holders of the Company’s Class C Convertible Preferred Stock are entitled.

Key Points: 
  • Monro, Inc. (Nasdaq: MNRO), a leading provider of automotive undercar repair and tire services, today announced that its Board of Directors has declared a quarterly cash dividend of $.28 per share on the Company’s outstanding shares of common stock, including the shares of common stock to which the holders of the Company’s Class C Convertible Preferred Stock are entitled.
  • The dividend is payable on March 22, 2024 to shareholders at the close of business on March 8, 2024.

Straightaway Tire & Auto Strengthens Internal Training Capabilities with Strategic Hires

Retrieved on: 
Tuesday, February 6, 2024
Finance, Professional Services, Aftermarket, Tires & Rubber, Automotive, O2, RLO

O2 Investment Partners ( www.o2investment.com ) is pleased to announce that Straightaway Tire & Auto ( www.gostraightaway.com ), a leading independent, full-service aftermarket automotive repair and service platform, has retained John Wafler and Jason Servidio to drive platform-wide internal training initiatives.

Key Points: 
  • O2 Investment Partners ( www.o2investment.com ) is pleased to announce that Straightaway Tire & Auto ( www.gostraightaway.com ), a leading independent, full-service aftermarket automotive repair and service platform, has retained John Wafler and Jason Servidio to drive platform-wide internal training initiatives.
  • John Wafler will oversee all Area Manager and General Manager training.
  • Previously, John spent more than 2 decades with RLO Training as a BLIG Facilitator.
  • This continues our quest to build a platform with top-notch, in-house training resources that each location will greatly benefit from as they pursue aggressive organic growth.”

Myers Industries Announces Reporting Date and Conference Call for 2023 Fourth Quarter and Full Year Results; Announces 2024 Annual Meeting Date

Retrieved on: 
Thursday, February 1, 2024
Machine Tools, Metalworking & Metallurgy, Chemicals, Plastics, Automotive, General Automotive, Tires & Rubber, Manufacturing, Machinery, Access code, Annual general meeting, Webcast

The Company will host a conference call the same day at 8:30 a.m. Eastern Time to review its performance.

Key Points: 
  • The Company will host a conference call the same day at 8:30 a.m. Eastern Time to review its performance.
  • Investors and analysts may access the call using the following online participation registration link: https://www.netroadshow.com/events/login?show=fc15d634&confId=59274 .
  • The Company also announced today that it will hold its Annual Meeting of Shareholders on Thursday, April 25, 2024, at 9:00 a.m. Eastern Time.
  • The Company’s Board of Directors set March 1, 2024 as the record date for shareholders entitled to notice of and to vote at the annual meeting.

TRD USA, Mobil 1™ Expand Relationship Beginning With 2024 Motorsports Season

Retrieved on: 
Tuesday, January 30, 2024
Motor Sports, Automotive, Extreme Sports, Other Energy, General Sports, Other Communications, Oil, Gas, Public Relations, Investor Relations, Sports, Marketing, Energy, Advertising, Communications, Other Automotive, Transportation, General Automotive, Tires & Rubber, Performance & Special Interest, Travel, Multimedia, Cup, ARCA Menards Series, David Gilliland Racing, F1, Longevity, NHRA, TRD, Labor Day Classic, Lexus, Toyota Supra (J29/DB), Phoenix Raceway, Partnership, Circuit, Glossary, NASCAR Cup Series, WeatherTech, History, Atlanta Motor Speedway, IMSA, NASCAR Craftsman Truck Series, JGR, Formula One, Labour, TD2, Mobil, Kalitta, Nemechek, Raceway, ARCA, Car, Talladega Superspeedway, NASCAR Xfinity Series, World of Outlaws, Late model, Bell, Indy, Toyota Racing Development, Late, Mobil 1, Toyota Camry, Xfinity, Top Fuel, Richmond Raceway, Lubricant, Series

View the full release here: https://www.businesswire.com/news/home/20240130122827/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240130122827/en/
    TRD USA, Mobil 1 expand relationship beginning with 2024 motorsports season (Photo: Business Wire)
    “Mobil 1 is proud to be synonymous with motorsports, and we are thrilled to take that to the next level with Toyota Racing Development,” shares Rob Shearer, Director of Global Sponsorships and Marketing Services, on behalf of Mobil 1.
  • “TRD’s technical partnership with Mobil 1 has been integral to Toyota’s on-track performance and success over the past 20+ years,” explains David Wilson, president, TRD USA.
  • "2024 is going to be a big year for us, and I'm very thankful to have Mobil 1 and its continued support once again this season.
  • Kalitta Motorsports will also continue to receive Mobil 1 support through the TRD partnership in the NHRA Mission Foods Drag Racing Series season.

European Plastics & Rubber Manufacturers and Products Directory 2024 - ResearchAndMarkets.com

Retrieved on: 
Thursday, January 25, 2024
Chemicals, Plastics, Automotive, Automotive Manufacturing, Tires & Rubber, Manufacturing, Other Manufacturing, System, Telephone, Marketing, Directory, Natural rubber, Table tennis rubber, Plastic, Publishing

The "European Plastics & Rubber Directory 2024" directory has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "European Plastics & Rubber Directory 2024" directory has been added to ResearchAndMarkets.com's offering.
  • The renowned European Guide to the Plastics and Rubber Manufacturers & Products!
  • The European Plastics and Rubber Directory is a unique directory that will keep your company in touch with the European plastics and rubber industries across all of Europe.
  • The European Plastics and Rubber Directory contain in excess of 4,000 European companies, all individually contacted annually for up-to-date information about their business.

Monro, Inc. Announces Third Quarter Fiscal 2024 Financial Results

Retrieved on: 
Wednesday, January 24, 2024
Aftermarket, Retail, Automotive, General Automotive, Tires & Rubber, Specialty, American Tire Distributors, Weather, Share repurchase, Comparable, Security (finance)

Sales for the third quarter of the fiscal year ending March 30, 2024 (“fiscal 2024”) decreased 5.2% to $317.7 million, as compared to $335.2 million for the third quarter of the fiscal year ended March 25, 2023 (“fiscal 2023”).

Key Points: 
  • Sales for the third quarter of the fiscal year ending March 30, 2024 (“fiscal 2024”) decreased 5.2% to $317.7 million, as compared to $335.2 million for the third quarter of the fiscal year ended March 25, 2023 (“fiscal 2023”).
  • Interest expense was $5.0 million for the third quarter of fiscal 2024, as compared to $5.9 million for the third quarter of fiscal 2023, principally due to a decrease in weighted average debt.
  • Diluted earnings per share for the third quarter of fiscal 2024 was $.38, compared to $.41 in the third quarter of fiscal 2023.
  • Monro is not providing fiscal 2024 financial guidance at this time but will provide perspective on its outlook for fiscal 2024 during its earnings conference call.

Straightaway Tire & Auto Acquires Maple Grove Auto Service and Warzecha Auto Works

Retrieved on: 
Wednesday, January 17, 2024
Aftermarket, Vehicle Technology, Automotive, Finance, General Automotive, Consulting, Professional Services, Business, Other Automotive, Tires & Rubber, O2, Maple

O2 Investment Partners ( www.o2investment.com ) is pleased to announce that Straightaway Tire & Auto ( www.gostraightaway.com ), a leading independent, full-service aftermarket automotive repair and service platform, has completed the acquisitions of Maple Grove Auto Service and Warzecha Auto Works.

Key Points: 
  • O2 Investment Partners ( www.o2investment.com ) is pleased to announce that Straightaway Tire & Auto ( www.gostraightaway.com ), a leading independent, full-service aftermarket automotive repair and service platform, has completed the acquisitions of Maple Grove Auto Service and Warzecha Auto Works.
  • Maple Grove is a full-service auto repair facility that has been serving the Maple Grove, MN market for over 4 decades, and Warzecha is a full-service auto repair facility that has been serving the Zimmerman, MN market for over 25 years.
  • “As a former employee of Maple Grove during my early years in the industry, it is an honor to come full circle and be rejoined with the team here,” said Jeff Matt, Division President.
  • Member companies will continue to benefit from platform infrastructure designed to accelerate their growth plans through best-in-class M&A, recruiting, training, and procurement.”

TireHub Revs Up Independent Dealer Experience with Launch of TireHub Plus

Retrieved on: 
Monday, January 15, 2024
Other Manufacturing, Aftermarket, Automotive, Other Automotive, Tires & Rubber, Automotive Manufacturing, General Automotive, Manufacturing, Customer, Digital Solutions, Create, Investment, Brison, Marketing, Growth, Retail

TireHub, the national tire distributor co-founded by Bridgestone Americas Inc. (Bridgestone) and The Goodyear Tire & Rubber Company (Goodyear), has unveiled its TireHub Plus program designed to elevate the operations of independent tire dealers nationwide.

Key Points: 
  • TireHub, the national tire distributor co-founded by Bridgestone Americas Inc. (Bridgestone) and The Goodyear Tire & Rubber Company (Goodyear), has unveiled its TireHub Plus program designed to elevate the operations of independent tire dealers nationwide.
  • TireHub Plus is a comprehensive solution of tools and services that will help boost revenue, enhance profitability, attract new consumers, and increase overall consumer satisfaction for TireHub customers.
  • “TireHub Plus is more than just a program; it's a commitment to empowering our independent dealers,” expressed Curtis Brison, TireHub’s vice president of sales, marketing, and strategic growth.
  • Product Screen Tool that Gives Insights Into Local Market Dynamics: Customized data sets help TireHub Plus members better understand local sales and trends.

Superior Appoints Deven Petito to its Board of Directors

Retrieved on: 
Thursday, January 11, 2024
Other Manufacturing, Aftermarket, Automotive, Engineering, Tires & Rubber, Automotive Manufacturing, General Automotive, Manufacturing, Princeton University, KKR, Morgan Stanley, MBA, AB, Kohlberg Kravis Roberts, Harvard Business School

Superior Industries International, Inc. (“Superior” or the “Company”) (NYSE:SUP) today announced the appointment of Deven Petito to its Board of Directors as an independent director, effective as of January 11, 2024.

Key Points: 
  • Superior Industries International, Inc. (“Superior” or the “Company”) (NYSE:SUP) today announced the appointment of Deven Petito to its Board of Directors as an independent director, effective as of January 11, 2024.
  • With the addition of Mr. Petito, the Board will be comprised of nine directors, eight of whom are independent.
  • Tim McQuay, Chairman of the Board of Superior, commented, “We are pleased to welcome Deven to Superior’s Board of Directors.
  • Mr. Petito holds an AB in Economics from Princeton University and an MBA from Harvard Business School.