6 Oct 2004
INDIANA, Pa. (Oct. 5)--Specialty Tires of America Inc. plans to invest about $1 million in equipment to produce radial specialty tyres in its Indiana plant by mid-2005.
Eugene Baker, general manager of sales for the Indiana-based speciality tyre maker, said the move is a response to customer needs. Initial equipment will be added in January with most of the machinery online by the second quarter, he said. The radial tyres will cover various segments, including drag racing tyres, Baker said.
With the investment, Specialty Tires will produce about 100 000 radial tyres annually at the facility, which formerly manufactured only cross-ply tyres. Specialty Tires' plant in Tennessee also produces radials.
The company will add 40 jobs over the next three years with the expansion, according to a statement from the Pennsylvania governor's office. Wholly owned by Polymer Enterprises Inc., Specialty Tires is financing the improvements with a low-interest $1 million loan from a public-private "job bank" programme.
Statement by Pennysylvania Governer
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