Bandag Expects 6% Drop in Sales

Bandag says it expects first quarter 2001 sales to be 6% below first quarter 2000, due to continued softness in the retread market.

Higher raw material and energy costs will further hurt its financial performance.
The company said retread demand is decreasing globally, but the market is particularly soft in North America. Here retread sales have been hurt by a glut of new tires attributed to an influx of imported tires and the decline in demand for new medium and heavy trucks. Those market conditions are expected to continue through much of this year.