Service Tire Truck Centers Inc. (STTC) opens retread plant in Millville, New Jersey

Michelin to expand its distribution network in retread tire market with the assistance of Service Tire Truck Centers Inc. (STTC)

United States: Service Tire Truck Centers Inc. (STTC) expands its network of retread tires, with the opening of a retread plant in Millville, New Jersey. The plant employs Michelin Retread Technology (MRT) which uses Oliver Rubber materials and processes. Oliver Rubber Co. L.L.C. is a retread tyre subsidiary of Michelin North America Inc. Currently, the dealer operates three MRT-based retread plants in its Eastern Seaboard distribution, including the plant in Millville.

Walter Deal-trey, the Chairman of STTC said,” adding the Oliver product line, positions his company to provide the right tread for any type of customer or government entity. Inter modal companies realize the importance of having quality retreads to minimize their tire-related downtime. For us, Oliver will fill that need.”

The recent report published by TechSci Research, “United States Tyre Market Forecast and Opportunities, 2020” depicts that the United States is the second largest automobile market in the world the country, with a motorization rate of more than 790 vehicles per 1,000 individuals (for passenger cars and commercial vehicles). Decline in the oil prices and strengthening of dollar are anticipate to aid the expanding automobile fleet, which would boost the tire demand in the country.

As per TechSci Research, the opening of new retread plant in the country will strengthen Michelin’s hold in the United States retread tire market. Further, commercial truck owners and inter modal companies would also get benefit from the new plant, on account of minimizing the tire-related downtime.