Brodsky: 'Alliance deal will not affect TRIB.'

Sept. 3, 2002

Harvey Brodsky says he and his investment group's plans to buy 51% equity in Israeli tire manufacturer Alliance Tire Co. will have no impact on the Tire Retread Information Bureau (TRIB), which he heads.

"It has no bearing whatsoever in what I do with TRIB. It doesn't detract one moment from the time I spend with TRIB."

Earlier today, discovered that Brodsky and a group of investors had signed a Memorandum of Understanding with Alliance to inject $50 million into the tiremaker, which does business in the United States through its Alliance Tire Co. USA Ltd. subsidiary.

The deal, when finalized, will give The Harvey Brodksy Group LLC majority share in Alliance.

Brodsky says he's been looking at the deal since 1992. Alliance "knew we were interested."

This isn't the first acquisition opportunity that the long-time TRIB director has examined.

"I've had many opportunities on the retread side of the industry to do consulting and I've always passed (in order to) stay loyal to TRIB.

That doesn't hold true when it comes to new tires or other tire-related opportunities.

"We think Alliance is a good company and can be made more successful by injecting some marketing savvy."