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Titan Elects New Directors

Titan International board of directors has elected several new directors at its annual meeting of stockholders held last week. Maurice M. Taylor Jr will be the new chairman and CEO, Erwin H. Billig vice chairman, Kent W. Hackamack vice president of finance and treasurer and Cheri T. Holley will be the new vice president and secretary.

“The Board thanks Mr Billig for his dedication and service as Titan’s chairman during the last 10 years,” stated Mr Taylor. “I personally would like to thank him for all of the time, effort and guidance given to me and the company and I know this will continue in his role as vice chairman.”

Richard M. Cashin Jr., Albert J. Febbo and Mitchell I. Quain were also elected by the stockholders to serve as directors for three-year terms. Stockholders also approved the Titan International, Inc. 2005 Equity Incentive Plan and the PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for 2005.

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  2. Cynthia Feldmann Appointed to Hayes Lemmerz’ Board of Directors
  3. Titan International no Longer Wants European Shares
  4. Titan International Announces Q2 Dividend
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Chinese Aim to Take On Rover 75 Production

In the wake of the collapse of MG Rover, it seems that the vultures are already circling the carcass. According to an Auto Express report, Shanghai Automotive Industry Corportation (SAIC) plans to build 321,000 Rover 75s in the next five years. Not one will come from Birmingham.

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Tuberex Calls in Administrators

Matthew Hammond and Rob Hunt of PricewaterhouseCoopers were appointed Joint Administrators of Tuberex Exhaust Systems Limited on 30 March 2005. Based in Stafford West Midlands, Tuberex manufactures and assembles car exhaust systems for the after market and is considered to be number three in the UK market with a 12 per cent market share. It has suffered from difficult trading conditions in the last 18 months, largely, as a result of increasing steel prices. The company has a turnover of around £10 million and employs 130 people.

“We are currently reviewing the Company’s financial position to establish whether a restructuring of the Company is possible. In the meantime Tuberex continues to trade as normal,” commented joint administrator, Matthew Hammond.

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Michelin In World Top Ten

In the latest PriceWaterhouseCoopers/Financial Times survey of the World’s Most Respected Companies, Michelin is ranked number nine in the Engineering sector. The list seeks the opinions of more than 1,000 CEOs worldwide, plus fund managers, media commentators, etc. Top of the Engineering list were Toyota and GM, while the top ranked company overall was General Electric, for the fifth year in a row.

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  4. Maxxis Ranked 6th Top Taiwanese Global Brand
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Show A Little Respect

A survey among 720 chief executives worldwide, conducted by the Financial Times and PricewaterhouseCoopers, lists the world’s most respected companies. There are no tyre companies in the top fifty and the only mention of a tyre manufacturer is of Michelin, who was placed equal sixth in a separate section headed ‘The World’s Most Respected Engineering Companies’.

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  1. Michelin In World Top Ten
  2. Michelin Changes Accounting Standards
  3. Hankook Execs Predict Slow Tyre Market for 2006
  4. Michelin Expected to Report 7.2 billion euros 1H Sales
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