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Michelin At The Paris Motor Show

Michelin has presented its OCP (Optimised Contact Patch) technology at the Paris Motor Show. With OCP technology wheels can lean, similar to a motor-cycle, thus optimising the contact patch area. The system is being tested by different car companies for use on cars at the upper end of the market. Later on Michelin will bring to market the pressure detection system EnTire which will be developed together with TRW in 2003.Development is also planned of an active air-management-system together with Wabco and the help of TRW and SKF, planned to be on the market in the year 2005. There is news too about ViaMichelin, in co-operation with Tele Atlas, for a on-board CD-ROM for navigation. Finally, Michelin Editions des Voyages has published a series of new travel-guides, including local street-maps, containing information for tourists.

30th September 2002/by Tyrepress Editors

Hot Rumours About Goodyear And Gibara

Now that Goodyear’s stock has fallen to its lowest value in the last 10 years, questions are being asked about the consequences for the management. At the moment Goodyear shares costs less than 10 US-$, and American newspapers report that, since 1996, when Sam Gibara took over, Goodyear’s stock-value has fallen by about 80 percent. Last year the company lost more than 200 million US-$, and this year there is no turnaround in sight.Goodyear is not in a position go on the offensive; on the contrary it has its back to the wall. Bad enough that the bond issues are rated as “junk-bonds” and that obtaining credit will be more expensive, but the scenarios and rumours that are being discussed inside the company would have been unthinkable some time ago. Despite these difficulties, analysts agree that Goodyear can resolve its problems without outside help, assuming it chooses the right measures. On Tuesday this week a routine chairman’s board meeting will take place. It is not known whether there will be any discussions about the management.

30th September 2002/by Tyrepress Editors

Goodyear Appointments

Gary D. Forsee (52) has been elected to the board of directors of the Goodyear Tire & Rubber Co. Forsee is vice chairman of domestic operations for the BellSouth Corp. and is described by Sam Gibara, Goodyear CEO as “a seasoned business leader with global experience in operations, marketing and strategic planning.” Goodyear has also appointed three corporate officers; Kathleen T. Geier (45), senior vice president, human resources; John G. Loulan (56), vice president, operations and Darren R. Wells (36), vice president and treasurer.

7th August 2002/by Tyrepress Editors

New Appointments At Hayes Lemmerz

Hayes Lemmerz International, Inc has announced several key appointments to its Global Leadership Team. The following individuals will report directly to Curtis J. Clawson, Chairman of the Board and Chief Executive Officer: James A. Yost has been appointed as Chief Financial Officer (CFO). Mr. Yost retired from Ford Motor Company in 2001 after serving as Vice President of Corporate Strategy. Kenneth A. Hiltz will continue in his role as Chief Restructuring Officer (CRO). He will continue to play a key role in the development and implementation of the Company’s restructuring plan. Brian O’Loughlin has been appointed as Chief Information Officer (CIO). Mr. O’Loughlin joins the Company from Revlon, Inc., where he served as CIO. Edward W. Kopkowski has been appointed to the newly created position of Vice President of Operational Excellence. Mr. Kopkowski previously served as Founder and President of Kopko Associates, Ltd., a consulting firm. “These talented professionals will bring tremendous strength to our organisation and have a major, positive impact on our global business,” said Mr. Clawson.

23rd July 2002/by Tyrepress Editors

Board Changes At Yokohama

Japanese tyre manufacturer has promoted six people within its Board of Directors and promoted five others as new Director candidates, subject to shareholder approval at the end of June. The six promoted Directors are Keimei Kiyoura, Kazuo Okamoto, Takashi Yamashita, Tadanobu Nagumo, Keigo Ueda and Takashi Sugimoto.

10th June 2002/by Tyrepress Editors

Positive AGM For Cooper

At Cooper Tire’s AGM chairman, president and chief executive officer Thomas A. Dattilo emphasised the successful implementation of the Company’s strategic plan and post-acquisition restructuring. “Investors are recognising our accomplishments and our future opportunities and the improvement in our share price is beginning to reflect that,” he said. Shareholders reelected Edsel D. Dunford and Dennis J. Gormley to new three-year terms as members of the Board and elected John F. Fiedler to his first three-year term as a director.Following the Annual Meeting, the board of directors declared a quarterly cash dividend of 10.5 cents per share on common stock, payable June 28, 2002, to stockholders of record on June 3, 2002.

13th May 2002/by Tyrepress Editors

Re-Election Of Goodyear Directors

Goodyear shareholders have re-elected three directors to the company’s board for three year terms. The three are: Sam Gibara (chairman and CEO), William J. Hudson (retires president and CEO of AMP Inc.) and Martin D. Walker (retired chairman and CEO of M.A.). Goodyear also declared a quarterly dividend of 12 cents per share.

16th April 2002/by Tyrepress Editors

Continental Refuses Offer For Traiskirchen

The Austrian industrialist Mirko Kovats has made an offer to Continental to acquire the Semperit factory in Traiskirchen. Kovats wanted to take over not only the plant for the symbolic price of 1 Euro, but also the tyre moulds and the rights to the brand. This was unacceptable from the outset for Continental and the Board could not take the offer seriously. It is now definite that more than 900 employees will lose their jobs. The ministry of economic affairs has announced the establishment of a foundation with capital of 21.3 million Euro for the Semperit employees, with 25 percent of this sum coming from Continental.

11th April 2002/by Tyrepress Editors

Continental Takes Over The Outstanding Shares Of Temic

Last year Continental bought 60 percent of DaimlerChrysler’s microelectronic subsidiary Temic for 398 million Euro. Now DaimlerChrysler pursued the option to sell the outstanding 40 percent to Continental for 215.3 million Euro. The German group has already renamed the new subsidiary as Conti Temic microelectronic GmbH which is under the leadership of Continental’s board member Dr. Wolfgang Ziebart and is part of the business unit Continental Automotive Systems.

10th April 2002/by Tyrepress Editors

“I’m Not Bidding” – Tom Farmer

A report in a Scottish newspaper quotes Sir Tom Farmer (61) as saying that he is not going to bid for Kwik-Fit. The Glasgow Herald report follows an article in the financial newspaper Business AM, which suggested that Farmer had tabled a bid, backed by the Bank of Scotland. He denied this, saying: “I am not going to bid and that has always been the case. But it seems that the more I say, the less people believe me.” Ford are reported as having whittled down the number of bidders to six from 35 and the winner will be named in May.

15th March 2002/by Tyrepress Editors

Dr. Wellen Takes Over From Bernd Frangenberg

Dr. Ulrich Wellen, the designated successor to Bernd Frangenberg, has taken over responsibility for Continental General Tire (CGT). Frangenberg will remain a member of the Executive Board until the Supervisory Board meets in April, when he will leave the company.

9th January 2002/by Tyrepress Editors

Changes To Trelleborg Board

Chairman of Trelleborg AB Rune Andersson and Deputy Chairman Lennart Nilsson will retire at the company’s Annual General Meeting next April. Andersson was appointed President and elected to the Trelleborg board in 1983, becoming Chairman in 1990. His replacement will be current Group Senior Vice President Anders Narvinger (53).

28th December 2001/by Tyrepress Editors

Rise in Pirelli Management

The Board of Directors appointed Giovanni Ferrario Managing Director, who also keeps the position of General Manager Pirelli. Responsibilities for all Operating activities are delegated to Giovanni Ferrario. Finally, Francesco Gori was appointed General Manager Tyre Sector.

28th December 2001/by Tyrepress Editors

Travel Ban At Continental

Employees of the business unit Continental International are being encouraged to travel less and to hold more video conferences instead. It is understandable that travel in dangerous regions or countries is not advisable, but the complete travelling prohibition is just justified by the need to save money. The complete business unit is highly insecure and seems to be on the point of collapsing. In any case the directory board has made it clear that acquisitions in the Asian region are no longer to be considered and that the restructuring process has only just started. By this means the advances made in past years have been wiped out.

28th December 2001/by Tyrepress Editors

New Board Member For Continental

Continental AG is set to expand its management board by creating a new post covering finance, controlling and legal matters. These are currently handled by Klaus Friedland, who is also responsible for Human Resources. Recent developments, such as the acquisition of Temic, has pushed Conti’s payroll up to 68,000 workers and increased the necessity for a full-time HR officer. No specific candidates are being considered for the Financial post at the moment, according to Conti.

28th December 2001/by Tyrepress Editors