board Archives - Page 29 of 40 - Tyrepress

Posts

JK Industries to Separate Tyre Business

JK Industries is planning to de-merge its assets in order to better focus its tyre business. The company’s board has today approved the proposal of de-merger. According to the India’s Business Standard newspaper, the investments will be transferred to a new company at their respective book values. Ernst & Young and Amarchand Mangaldas and Suresh A Shroff & Co (AMSS) have been appointed as advisors and legal advisors, respectively, the company told the Bombay stock exchange. JK Tyres manufactures the JK and Vikran tyre and produces 7.2 million units each year.

9th February 2006/by Tyrepress Editors

Amtel-Vredestein Names New CFO

Amtel-Vredestein has named Antonius (Ton) Tholens, as its new Chief Financial Officer. Tholens, who also serves as a member on AV’s executive board, replaces outgoing CFO, Victor Nekrassov.

“Ton is already one of our group’s most valued executives. We are delighted that he will now be at the financial helm of Amtel-Vredestein NV,” said CEO, Alexei Gurin.

1st February 2006/by Tyrepress Editors

BIPAVER Relocates Secretariat

BIPAVER, the European Retread Manufacturers Association has announced that it has relocated its offices and made several changes to its operational structure.

The Retread Manufacturers Association (RMA) has administered BIPAVER in the United Kingdom since 2002. Now the Association has decided to relocate its offices to Leiden in the Netherlands, where the Dutch Trade Association, VACO, will administer it.

1st February 2006/by Tyrepress Editors

Titan Says It is Considering Offer, But No Action Yet

(Akron/Tire Review) Titan International has said that it is still reviewing the $18 per outstanding share offer it received in October 2005 from One Equity Partners, a JP Morgan Chase & Co. unit.

24th January 2006/by Tyrepress Editors

ATSE Appointment Strengthens CV Position

ATS Euromaster has made its third significant appointment to its national sales team in four months signalling the clearest indication yet of its plans to become market leaders in the fleet car and commercial vehicle tyre service sectors.

20th January 2006/by Tyrepress Editors

Titan Buyout Deal to Close Next Month

(Akron/Tire Review) The sale of Titan International Inc. to One Equity Partners, a private equity group of JP Morgan Chase & Co, should be completed by the end of February, according to Maurice Taylor Jr, Titan’s chairman and CEO. Taylor said the special board committee of Titan directors formed to pursue talks with One Equity will vote on the deal by the middle of February. Shareholders will vote at the end of the month, he said.

18th January 2006/by Tyrepress Editors

Shoshi Arakawa Named as Bridgestone President-Elect

The next president and chief executive of the Bridgestone Corporation will be Shoshi Arakawa (61), the former head of the company’s European operations. His appointment will become effective on 30th March.

12th January 2006/by Tyrepress Editors

Falcon Tyres Polls Shareholders

Falcon Tyres Ltd has said it will seek shareholders’ approval through postal ballot for the proposed indirect change in control of the company. In a notice to the Bombay Stock Exchange, Falcon Tyres said shareholders’ approval was required pursuant to the acquisition of all the shares held by the company’s current backers. The board has appointed Gopinath M R, a practising company secretary, as the scrutiniser for the postal ballot, the notice said.

6th January 2006/by Tyrepress Editors

Obituary: John Joseph Tinker

BEN, the Motor and Allied Trades Benevolent Fund is mourning the loss of one of its long serving board members – John Joseph Tinker. John sadly died on Friday 23 December, having suffered poor health in recent months.

6th January 2006/by Tyrepress Editors

Titan Announces Fourth Quarter Dividend

The Board of Directors of Titan International, Inc has approved a quarterly cash dividend of $.005 (one half cent) per common share for the fourth quarter of 2005. The cash dividend is payable 13 January 2006, to stockholders of record on 30 December 2005.

16th December 2005/by Tyrepress Editors

Hamburg Court Approves ContiTech/Phoenix Merger

A Hamburg court has dismissed a total of 26 actions relating to the merger of ContiTech and Phoenix. In so doing, the court affirmed the validity resolutions made at a Phoenix extraordinary shareholders meeting at the end of 2004. This means the merger has cleared a significant legal hurdle on the road to legal clearance.

9th December 2005/by Tyrepress Editors

Hayes Lemmerz 3Q Sales Up 11 per cent

Hayes Lemmerz International, Inc today reported that sales for the fiscal third quarter ended 31 October 2005, rose 11 per cent to $604.0 million from $545.9 million for the same period last year. However Hayes Lemmerz reported net losses of $13.3 million, compared with $5.3 million in the same period last year, and issued revised guidance for 2005.

8th December 2005/by Tyrepress Editors

Hayes Lemmerz Sells Cadillac Foundry

Hayes Lemmerz International, Inc. has confirmed that it has sold Hayes Lemmerz International – Cadillac, Inc, a wholly-owned subsidiary that operates its Cadillac, Michigan facility. The Cadillac operation was sold to a group of private investors and will now be renamed Cadillac Casting, Inc.

7th December 2005/by Tyrepress Editors

Battery Stocks Warning from Varta

Varta has warned that recent mild winters could lead to an air of complacency in the trade and that severe weather conditions could have a marked effect on aftermarket battery stocks.

The warning comes as the Meteorological Office is predicting the coldest UK winter for at least a decade and Varta’s managing director Paul Matarewicz believes that many independent and franchised workshops may not have sufficient stocks to meet increased demand, saying: “Even though improved battery technology and a succession of mild winters have had the effect of lessening peaks and troughs in battery sales across the year, there can be no doubt that the return of a hard winter would lead to a substantial surge in battery failure, especially in older cars.”

22nd November 2005/by Tyrepress Editors

Bandag Increases Quarterly Dividend

The board of directors of Bandag, Incorporated, has announced an increase in the regular quarterly dividend from $0.33 per share to $0.335 per share on the Common Stock, Class A Common Stock and Class B Common Stock of the company. The dividend is payable 20 January 2006 to shareholders of record at the close of business on 20 December 2005.

9th November 2005/by Tyrepress Editors