Visions - Spring 2008 - 11

T H E W H E E L S (Continued from page 5) In 2005, SCOA purchased TBC Corporation with an eye on the U.S. tire business. It was the best place to start, since TBC Corporation is the nation's largest vertically integrated marketer of tires for the automotive replacement market. TBC’s retail operations include company-operated tire and automotive service centers under the three brands: the Tire Kingdom brand, the Merchant's Tire & Auto Centers brand and the National Tire & Battery brand, as well as franchised stores under the Big O Tires brand. From the wholesale side, TBC markets to regional tire chains and distributors serving independent tire dealers throughout the United States, Canada, and Mexico. Through its Carroll Tire wholesale distribution centers, the Company also markets directly to independent tire dealers throughout the United States. TBC's five proprietary brands of private label tires, which include Multi-Mile, Cordovan, Sigma, Vanderbilt, and Big O, are produced by nationally recognized manufacturers. These brands are distributed through TBC Private Brands (except Big O, which is sold under its own franchise) to wholesalers throughout the United States, Canada, and Mexico. TBC Private Brands, along with Treadways brand, holds 9% of the overall market share in the national replacement tire market for passenger and light truck tires, with Treadways selling the Jetson, Laramie, Eldorado and Telstar brands. T H E P U R C H A S E (Continued from page 5) Established in 1989, Summit Motor Management originally managed car dealership operations in the United States, and their first dealership sold Mazda vehicles. Since that time it has evolved into a holding and management company, and performs roles like accounting consolidation and internal control functions for various auto dealerships under their management. Currently, Toyota and Honda serve as Summit’s largest auto manufacturers for their retail business. Summit Motor Management is based out of Costa Mesa, California in Orange County. Summit Motor's largest U.S. dealership is Tri-Cities Motor Sales in Pasco, Washington which they own along with a stand-alone Toyota dealer in nearby Kennewick. These two Tri-Cities Motor Sales dealerships sell Toyota, Mitsubishi and Chrysler vehicles, and there are tentative plans to look for more auto dealerships in the Northwest. Summit’s Crown Motor dealership in Redding, California, sells Ford, Dodge and Honda vehicles. Summit is also currently looking for acquisition possibilities in the Southeast. And if you are buying a car and live in Mexico, why not let SCOA help you with the financing? Summit Motor Management’s auto finance company, Auto Summit Commercial Services, has experienced rapid financial success and has been expanding each year since its establishment in 2001. The company currently has 37,000 contracts outstanding and will receive 18,000 new contracts this year. Thirty six percent of the financing company is owned by their local partner, which is the number one deal group in the Monterrey, Mexico market. Currently, they mainly finance to customers who buy their vehicles through their partner’s dealerships. Sumitomo Corporation of America 11

Visions - Spring 2008

Table of Contents for the Digital Edition of Visions - Spring 2008