Mike Dorward, former Managing Director of Kerridge, has joined Euro Car Parts as a Non–Executive Director to the Main Board. As part of the original Kerridge founding team, his was in a pivotal role in the company’s overall development and successful positioning as the principal IT provider to the UK motor industry for over 25 years, culminating in the recent sale of Kerridge to ADP of USA – one of the world’s largest data companies.
Kwik-Fit has named Chris Bosworth as business development and marketing director. Reporting to CEO Ian Fraser, in this newly created role Chris Bosworth will be responsible for all Kwik-Fit’s brand development strategy as well as all external and internal communications, including its high profile TV advertising campaigns. Prior to joining Kwik-Fit Bosworth was customer delivery planning director at Orange UK. Reporting directly to the COO, he was responsible for a £600 million subscriber acquisition and retention budget as well as channel strategy and web-channel development.
Amtel-Vredestein has rebuffed reports that suggested it plans to buy back its shares. Responding to the news with an official statement, the Russian/Dutch tyre manufacturer countered what was “erroneously reported and editorialised by Russian Business Consulting’s daily online newspaper RBC Daily.”
Titan Tire Corporation, a subsidiary of Titan International, Inc. has entered a new five-year agreement to supply Deere & Company with construction and forestry tyres. With Titan’s recent acquisition of Continental Tire North America, Inc.’s off-the-road (OTR) tyre plant in Bryan, Ohio, Deere’s senior management requested that Titan help them meet tyre demand and overcome shortage challenges, according to an official statement.
The EU Commission has decided to extend its investigation into Thule’s, a world leader in Sports Utility Transportation, acquisition of Pewag Schneeketten GmbH which was made public on 31 March this year. “The European Commission needs more time to investigate into the consequences for customers and consumers in markets such as Italy, Austria and France”, comments Anders Pettersson, CEO and President of Thule AB. “The complexity of the market conditions makes this further investigation necessary and we support this step. We estimate that the final decision will be made in approximately four months”, concludes Anders Pettersson.
Bryan Ganz, president and co-CEO of GPX adds: “Starbright significantly expands GPX’s presence in the Asian market and allows us to directly service our growing international markets”. In addition to the acquisition of Starbright, GPX is pleased to announce the hiring of Phil FitzGerald as the managing director of the Hebei Starbright factory. FitzGerald will assume the responsibility of plant modernization and refurbishment with the goal of transforming the Starbright factory into a world-class production facility focused on the manufacture of work-tyres.
(Akron/Tire Review) The United Steelworkers (USW) has filed a complaint with the US State Department against German tyre and auto system maker Continental AG, alleging breaches of the Guidelines for Multinational Enterprises of the Organization for Economic Cooperation and Development (OECD).
Amtel-Vredestein’s (AV) AV-TO retail subsidiary has announced that it is to buy Nizhny Novgorod-based motorfactor, Pigma, and tyre distributor Megashina. With over 10 years in the market, LLC Trade House Pigma (Pigma), is reportedly a dynamic company that sells more than 27,000 auto components from approximately 40 producers to over 1500 customers throughout Russia and CIS. Pigma also built a network of seven tyre service retail centres in Nizhny Novgorod – which it sold to Amtel-Vredestein in March 2006.
(Akron/Tire Review) Continental AG’s chief financial officer claimed yesterday that the German tyre and auto system maker has at least 3 billion euros in a ‘war chest’ to finance future acquisitions. Company CFO Alan Hippe, who is also president of Continental Tire North America, made the remarks in an interview with Handelsblatt newspaper.
Dunlop Zimbabwe, the country’s largest tyre manufacturer, is set to receive assistance from the local government’s Z$5 trillion Distressed Companies Fund. Industry and International Trade Minister Obert Mpofu revealed this week that the company was one of over 300 companies that applied for assistance from the fund. He said: “Dunlop is a very strategic company that we, as government, will not watch to the time it folds. On the part of government, we have resolved to make it one of the companies that will benefit from the Z$5 trillion facility that we unveiled for distressed companies”.
Samir Kumar Paul has been appointed as the new managing director of Dunlop India. Following the acquisition of the company from the Chhabrias, company owner, Ruia, had brought Ashok Jajodia, Dipak Rudra, Narayan Prasad Agarwalla, and Sajid Khan onto its board. The company has taken steps to compile and reconcile accounts for 2001-02, after getting access to statutory and other relevant records from its erstwhile registered office at Dunlop House.
A UK tyre crumbing plant that went into administration recently has been purchased for £1 million, by Hargreaves Services plc, a leading energy and waste services provider. Hargreaves Services says the plant, located in Sheffield, has an annual capacity in excess of 50,000 tonnes.
Cooper Tire & Rubber Company chairman, president and CEO, Tom Dattilo has resigned to pursue another position elsewhere. The board of directors has announced that Byron O. Pond is to serve as interim CEO while the company searches for a replacement. In the last year Cooper’s share price has fallen around $11 and the company has reported a string of unimpressive quarterly reports. First half 2006 results showing a 19 per cent sales increase and $26 million of losses were published in parallel with the news of Dattilo’s resignation.
The European Commission has cleared the acquisition of Motorola’s automotive electronics systems business by Continental AG under the EU Merger Regulation. The Commission concluded that the proposed transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.
Van Aarsen, a leading turnkey project supplier has introduced “Next Generation” tyre recycling systems for the production of tyre derived value added rubber powders and granules. Van Aarsen became involved in Tyre Recycling during the early eighties when a former employee took the first steps in tyre recycling. When leaving the diversification strategy in the late eighties their roads split.
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