SEMA News—May 2021

INDUSTRY NEWS

PRI
The Performance Racing Industry Trade Show will return to the
Indiana Convention Center in Indianapolis on December 9—11, 2021.

PRI Announces Return of PRI Trade Show For 2021

Performance Racing Industry (PRI) has announced the return of the world’s premier event for motorsports professionals—the PRI Trade Show—to the Indiana Convention Center in downtown Indianapolis on December 9—11, 2021.

“The racing industry is resilient and continues to push forward, and PRI very much reflects that spirit,” said PRI President Dr. Jamie Meyer. “Racing businesses have demonstrated remarkable passion and perseverance over the last 12 months. Many have even reported record sales and month-over-month revenue growth.

As planning for the Show continues, PRI will introduce a new membership program for motorsports professionals designed to unite the industry on a number of efforts—legislative advocacy, business resources, career development and more. Exhibitors at this year’s Show, for example, can take advantage of benefits that include discounted booth space, which in most cases covers the cost of membership.

Exhibitor booth space applications for the 2021 PRI Trade Show, which includes a sign-up option for PRI Business Membership, are now available. Details for Trade Show attendee registration, PRI Individual Membership, and the ’21 PRI Road Tour will be announced at a later date. To learn more, visit
www.performanceracing.com.

SAN
SEMA SAN’s award-winning quarterly newsletter,
Driving Force, moved away from print and is now
available for free to members online.

SEMA SAN Driving Force Newsletter Goes All Digital

Through the SEMA Action Network (SAN), SEMA members and enthusiasts have played a critical role in defending the industry from government overreach for more than two decades. Since 1997, the award-winning Driving Force publication identified pending legislative and regulatory issues—along with spotlighting lawmaker allies—to keep enthusiasts nationwide informed through the SAN.

After careful consideration, the decision was made to discontinue publication of a printed edition of Driving Force and instead focus on delivering a fully digital experience. Existing subscribers with current email addresses will continue receiving the Driving Force online in their inboxes. Print-only subscribers and others not receiving updates may submit their email for ongoing free delivery.

The SEMA SAN website (www.semasan.com) contains a full archive of articles appearing in the newsletter as well as access to additional no-cost grassroots advocacy tools—including the tag-and-title toolbox 50-state license plate resource and a new multimedia lobbying guide.

While there, sign-up to stay informed on issues in your region by subscribing at www.SEMAsan.com/join.

Covid
The COVID-19 pandemic had a devastating impact on
racetracks around the country. A SEMA/PRI coalition is
lobbying for the creation of a $15 billion grant program to
provide a lifeline to struggling tracks.

SEMA and PRI Coalition Request Support for Racetracks Impacted by COVID-19

SEMA and the Performance Racing Industry (PRI) has formed a coalition in partnership with 17 organizations that represent recreation, sports and amusement live venues that have experienced significant revenue declines during the COVID-19 pandemic. The coalition is focused on creating a federal program to provide grants to racetracks and other live entertainment businesses impacted by state and local attendance restrictions during the pandemic. The coalition formally submitted a letter to the U.S. House and Senate Small Business Committee to request the creation of a $15 billion grant program that would provide a lifeline to racetracks and other live entertainment businesses.

The COVID-19 pandemic had a devastating effect in 2020 on racetracks and racing circuits around the world, with most major racing series forced to delay or postpone key events or to cancel entire racing seasons altogether. It is important that members of Congress hear from SEMA members about providing financial support to racetracks. For details, contact Eric Snyder at erics@sema.org.

Cooper
Goodyear Tire & Rubber Co. acquired Cooper Tire and Rubber
Co., the fifth-largest tire manufacturer in North America.

Goodyear Acquires Cooper Tire

Goodyear Tire & Rubber Co. and Cooper Tire & Rubber Co. announced that they entered a definitive transaction agreement under which Goodyear acquires Cooper in a transaction with a total enterprise value of approximately $2.5 billion. The transaction will expand Goodyear’s product offering by combining two portfolios of complementary brands. It will also create a stronger U.S.-based manufacturer with increased presence in distribution and retail channels while combining both companies’ strengths in the highly profitable light-truck and SUV product segments. The combined company will have approximately $17.5 billion in pro forma 2019 sales.

Founded in 1914, Cooper is the fifth-largest tire manufacturer in North America by revenue, with approximately 10,000 employees working in 15 countries worldwide. Cooper products are manufactured in 10 facilities around the globe, including wholly owned and joint-venture plants. The company’s portfolio of brands includes Cooper, Mastercraft, Roadmaster and Mickey Thompson. The transaction is subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals and the approval of Cooper shareholders. The transaction is expected to close in the second half of 2021.

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