Lanxess AG has lifted its full-year guidance for 2011 on the back of strong second quarter results. The German specialty chemicals company now expects its EBITDA pre-exceptionals to grow about 20 per cent year-on-year after previously forecasting a growth of 10 to 15 per cent. During the second quarter the company’s EBITDA pre-exceptionals rose 26 per cent year-on-year to 339 million euros.
At its meeting on August 10, the Supervisory Board of German specialty chemicals supplier Lanxess renewed Dr. Axel C. Heitmann’s tenure as chairman of the Board of Management for a further five years. This extension will take effect on July 1, 2004. Heitmann has held the position since September 2004.
Wrightington’s One Stop Hire, the largest independent tool and equipment hirer in the North West, has appointed ATS Euromaster to service tyres across the firm’s fleet of 30 light commercial vehicles and eight company cars. Steve Hitchen, managing director of One Stop Hire, says: “Our own business is modelled around being able to provide a one-stop-shop service to our customers, and that’s exactly what we need from a tyre service provider. ATS Euromaster has the expertise to supply and fit tyres for both our cars and light commercials – and can carry out the work in the most convenient locations.
A 13th member has been appointed to Goodyear Tire & Rubber’s Board of Directors. This newest member is William J. Conaty, retired senior vice president of human resources for the General Electric Company.
Evonik Industries reports successfully completing the divestment of its carbon black activities on July 29, 2011. The sale of the business to Rhône Capital and Triton Partners is valued at over 900 million euros, the company added.
A new battery tester from Equipexpress offers technicians and fleet owners the chance to test batteries thoroughly, as well as alternators, starters and engine earthing, then store the results and print them out through a PC. The BESA (Battery Electrical System Analyser) offers a level of functionality normally found only in much more expensive equipment. It gives a detailed analysis of the state of a vehicle's battery, now more vital than ever as modern car systems and the growth of diesel continue to impose increasing demand on batteries.
On August 1, Yves Kerstens, who is currently a member of Bridgestone Europe’s Board of Directors and vice-president of Supply Chain and IT, will take up the position of managing director of the company’s Commercial Products Business Unit. In this newly-created role, Kerstens will be responsible for truck & bus, off-the-road and agricultural tyres, for both the original equipment and replacement markets. As such, his position covers all of Bridgestone Europe’s markets and divisions.
Nano-precipitated calcium carbonate manufacturer ShengdaTech, Inc. reports its business operations will continue to be conducted as usual during its appeal against the delisting determination issued by The Nasdaq Stock Market LLC’s Listing Qualifications Department. The appeal, ShengdaTech reports, has temporarily stayed the delisting pending a hearing on the matter on May 26. ShengdaTech acknowledges there is no assurance its appeal for continued listing will be granted and even goes as far as admitting that, should it be granted, it can not assure it will “be able to execute upon such request in a timely manner or to the satisfaction of Nasdaq.” Should the Nasdaq confirm the delisting determination, ShengdaTech’s securities will be subject to imminent delisting from Nasdaq and will be quoted for trading in over-the-counter securities markets.
At its May 20 meeting, Yokohama Rubber’s Board of Directors decide in favour of the promotion announced by the previous Board of company president Tadanobu Nagumo to the role of chairman and CEO. Nagumo maintains his role as representative director. Taking his place as president is Hikomitsu Noji, currently director and senior managing corporate officer, and president of the Yokohama’s Tire Group; Noji will continue serving in this last-mentioned capacity. These and other promotions decided upon at the meeting will be formally approved at the company’s general meeting of shareholders on June 29.
Dunlop India has informed the Bombay Stock Exchange of the resignation of Pawan Kumar Ruia as chairman of the tyre maker’s Board of Directors. Ruia’s resignation took effect on January 31, however the BSE was not notified until April 28. The Ruia Group chairman retains his position as director of the company.
Management at Point S Development – the France-based operation responsible for developing the international Point S network – have spoken of significant growth plans since late 2009. Many of their goals have already been realised and today Point S is represented by networks in 20 European countries, making it one of the region’s largest retail tyre organisations. With Point S now represented throughout much of Europe, Point S Development is casting an eye across the Atlantic. Plans for expanding into North America on the drawing board since 2009 are now being implemented in more concrete terms.
At a meeting of the Yokohama Rubber Board of Directors on April 27, two “informal” changes in its representative directorship were decided upon. Tadanobu Nagumo, currently the company’s president and representative director, will become its chairman and CEO and representative director, while Hikomitsu Noji, who at present serves as director and senior managing corporate officer plus president of the company’s Tire Group, is to become Yokohama Rubber’s president and representative director and president of the Tire Group.
Bridgestone has announced the approval by its board of directors of three vice presidents’ changes of position and responsibilities. Yoshiyuki Morimoto is now responsible solely for products development in his senior officer role, with Tatsuro Hamada taking over responsibility for tyre research and material development. Hamada’s previous position as internal manufacturing management officer has been transferred to Masahito Tsuji, who has added this responsibility to his role as procurement officer.
Shareholders of The Goodyear Tire & Rubber Company have re-elected 12 members of the company’s board of directors including chairman, president and CEO Richard J Kramer (full list below). The company also officially appointed PricewaterhouseCoopers as the company’s independent registered public accounting firm for 2011, having had the action ratified by shareholders.
German specialty chemicals group Lanxess has founded a dedicated company for the Middle East, Lanxess Middle East GmbH. The company has its offices in Dubai and is being headed up by managing director Elie Saad, who has held a number of positions within the Lanxess group and was most recently the head of the global polymer additives business in within the company’s Functional Chemicals business unit.
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