Uniroyal Aims To Become Predominantly Chemical Maker: Traditional tire business will be used to generate funds for expansion of chemical operations, which now account for 30% of sales

Uniroyal, the third largest tire producer in the U.S., has long gone out of its way to keep the word tire out of its name. When it changed its name from U.S. Rubber in 1967, it could easily have become Uniroyal Tire, but it didn't. And it corporately bridles when it is referred to in that way. It is apparent why. The company is fast on its way to becoming a chemical company—at least in the sense that its fortunes in the future will hang more on chemicals than on anything else. As recently as five years ago, Uniroyal's chemical operations accounted for just 17% of the corporation's total sales, but a series of acquisitions and a relatively stagnant tire market made that proportion rise to almost 30% in 1983. This year, it probably will be well above 30% as demand for the company's agricultural chemicals recovers from the effects of the government's payment- in-kind ...