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TREADCO, INC. ANNOUNCES AGREEMENT TO ACQUIRE OPERATIONS OF TRANS-WORLD TIRE CORPORATION (d)

 FORT SMITH, Ark., Aug. 10 /PRNewswire/ -- Treadco, Inc. (NASDAQ-NMS: TRED) today announced the signing of a purchase agreement to acquire substantially all the assets and liabilities of Trans-World Tire Corporation.
 Trans-World has full service new and retread truck tire operations in Jacksonville, Orlando, Ocala, Tampa and Sarasota, Fla., plus a nationwide import tire casing business. Trans-World, with retread production facilities in all of its locations except Sarasota, is the largest Florida franchisee of Bandag, Incorporated (NYSE: BDG).
 Trans-World's 1992 revenues of $24 million, employment of approximately 120 people, and five business locations make it the largest acquisition in Treadco's history.
 Pending closing of the acquisition, Bandag has approved Treadco as franchisee for Trans-World's four franchises. Closing is subject to certain customary conditions and is scheduled for late August. The terms of the purchase price were not disclosed.
 Treadco, headquartered in Fort Smith, is Bandag's largest domestic franchisee, with 22 retread production facilities and 18 sales outlets concentrated throughout the southern half of the United States.
 "Combining Trans-World's five central Florida facilities with Treadco's existing facility in southern Florida is a natural progression connecting our network of facilities throughout Florida and the southern United States," said J.J. Seiter, Treadco's president.
 "Ron Friedman has built Trans-World into a thriving central Florida business, utilizing innovative marketing philosophies while providing excellent service to the truck tire market. Trans-World's large service truck fleet and dedication to servicing their truck fleet customers mirrors Treadco's operating strategies.
 "Treadco is pleased that both Ron and his son Reid will be working with Treadco in the future. Both Ron and Reid have valuable experience, knowledge and contacts in the truck tire business which will be of significant value to Treadco," said Seiter.
 "I am very pleased that Treadco is purchasing Trans-World's facilities," said Ron Friedman, president and sole shareholder of Trans- World. "I have known J.J. Seiter many years and I know that Treadco will continue to provide good service to our customers and job opportunities for our employees.
 "Since starting Trans-World in 1954 with one recapping mold behind a corner gas station, I've seen it grow to become Florida's largest Bandag retread franchisee, in addition to adding new tire sales and a nationwide casing import business. Treadco's acquisition of Trans- Wo continue its nationwide growth," said Friedman.
 -0- 8/10/93
 /CONTACT: Randall Loyd of Treadco, 501-785-6200/
 (TRED BDG)


CO: Treadco, Inc.; Trans-World Tire Corporation; Bandag Incorporated ST: Florida, Arkansas IN: AUT SU: TNM

BN-TG -- AT016 -- 1391 08/10/93 17:26 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
Words:417
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