(Akron/Tire Review) Richard Smallwood, president and chief operating officer of Falken Tire Corp., has been appointed to serve on the company’s board of directors.
Kazumichi Mandai, director of Sumitomo Rubber Industries’ Tire Trading Inc., was also selected as a new member of Falken’s board of directors.
(Akron/Tire Review) Effective February 8, Vredestein Tyres North America will increase tyre prices in the U.S. up to 4%.
The increase applies to all tyre lines, including all-season, summer and winter, and is due to the continuing escalation of raw material prices over the last year, according to Michiel Kramer, market development manager.
(Akron/Tire Review) Amtel-Vredestein N.V. announced that it has accepted the resignation of executive board member Anne van’t Veer, and managing director of Amsterdam Trade Bank N.V.
He joined the Amtel-Vredestein executive board in September 2006.
Van’t Veer said he resigned for personal reasons. Amtel-Vredestein said it did not expect to replace him at this time, and his duties would be assumed by other members of the board.
Automotive component supplier Hayes Lemmerz International, Inc. has announced further plans by which it intends to maximise long-term value for its shareholders through the ‘streamlining’ of its North American operations. Specifically, the Company announced:
(Akron/Tire Review) Long-time TBC Corp. executives Ken Dick and Orlando Wolford have been elected to the company’s board of directors. Dick is currently president and CEO of TBC’s wholesale and private brands divisions, while Wolford is CEO of TBC’s company-owned retail stores division.
The Russian-Dutch tyremaker Amtel-Vredestein has refuted claims that talks with Continental AG on a possible collaboration have broken down. Rumours have been circulating that the German company had decided to end negotiations, and the Frankfurter Allgemeine newspaper quoted a Continental supervisory board member as saying “The deal has died for now.”
It appears Continental AG will not takeover Russian-Dutch tyre manufacturer Amtel-Vredestein after all. “The deal has died for now,” reported the Frankfurter Allgemeine newspaper, quoting a Continental supervisory board member. The source reported that the negotiations did not even reach fulfilment of the Due Diligence process as certain questions were not sufficiently answered. No details of what these might have been were published. The Continental press office has not made an official comment on the subject. The news comes after months of speculation following Russian news reports that Amtel boss, Alexei Gurin approached Continental for negotiations. Then reports suggested the deal could have been completed by March 2007.
The board of the Ruia group’s Falcon Tyres have approved the merger of their company with Montona Tyres, another company within the group. The announcement was made by Falcon Tyres chairman P.K. Ruia, and once the board of Montona gives their go ahead the decision will be taken before the regional high courts where the tyremakers are based to gain official blessing for the merger.
Pirelli has reported the death of Former chairman Leopoldo Pirelli. Pirelli, who passed away at his home in the northern Italian seaside resort of Portofino, was 81.
On January 17 Amerityre Corporation announced its Board of Director’s transition plan for the eventual replacement of the company’s current chairman and CEO, Richard Steinke. Mr. Steinke founded Amerityre in 1995 and has been actively involved in the development of polyurethane technologies. He intends to resign from both his posts on October 1, 2007.
At a ceremony during the North American International Auto Show General Motors praised Continental Automotive Systems for their overall excellence in supporting GM’s product.
Bo Andersson, GM’s vice president of Global Purchasing and Supply, said “GM strives to build the best cars and trucks in the world, and the leadership and employees of Continental Automotive Systems represent what it takes to make GM’s products successful.”
Scottish based online tyre retailer Black Circles has been dealt a blow by the unexpected departure of its finance director, Bob Russell. Mr. Russell had been with Black Circles since its early days and in August 2006 had joined the company’s Board of Directors. He reportedly was a key adviser to chief executive, Michael Welch.
Black Circles has over 900 contracted fitting outlets, and the company is currently finalising its plans to double this number, as well as enter the French and German markets. No replacement for Russell has been named at present.
Continental AG has outlined plans to broaden their pool of fresh talent by hiring 1,300 university graduates and young professionals this year. According to the Company’s human resources director and executive board member Thomas Sattelberger, Continental is seeking those with engineering and science degrees as well as economics and business administration graduates.
Major US manufacturer of vehicle wheels and components, Accuride Corporation, has announced the appointment of a new Chairman of the Board and Executive Management. The appointments were announced on January 2 and took effect immediately. The new appointments are as follows:
(Akron/Tire Review) Joseph Russo, former president and chairman of the board of Hercules Tire & Rubber Co. and owner of Bell Tire in Cleveland, passed away on Dec. 30 after a short illness.
Russo served as president of Hercules from 1971 to 1987 and as chairman of the board from 1987 to 1989.
The funeral service is scheduled for 10:00 AM on Thursday, Jan. 4, at St. Adelbert Church in Berea, Ohio, with internment to follow at Holy Cross Cemetery.
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