record Archives - Page 17 of 30

Titan International Announces Third Quarter Cash 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 third quarter of 2007. The cash dividend is payable October 15, 2007, to stockholders of record on September 28, 2007. Titan International, Inc., a holding company, owns subsidiaries that supply wheels, tyres and assemblies for off-highway equipment used in agricultural, earthmoving/construction and consumer (including all terrain vehicles) applications.

11th September 2007/by Tyrepress Editors

PCL Appoints New UK Product Manager

Product News

Pneumatic Components Ltd has appointment Dale Robertson to the role of new product manager, A.I.R. Products (UK). In his new position he will target markets for compressed air equipment throughout the UK.

Mr. Robertson brings extensive product management and development engineering experience, gained within the power tool and accessories market, to his role based at PCL’s Sheffield headquarters. “Dale has a proven track record of success within our industry and his skills and experience make him a valuable asset to our team,” said Pete McCall, PCL director.

Prior to joining PCL, Mr. Robertson worked with Marcrist International Ltd and Armeg Ltd.

3rd September 2007/by Tyrepress Editors

Accuride Appoints New Senior VP Sales and Marketing

Product News

On August 20 Accuride Corporation named the successor to H. Larry Taylor, who recently left the company to pursue other career opportunities. Stepping into the role of senior vice president, sales and marketing is Richard Schomer, who brings more than 20 years’ experience of OEM and aftermarket sales with him.

Schomer will be responsible for the strategic global leadership of Accuride’s sales and marketing operation and will work closely with Accuride’s strategic business units to drive product, market and global expansion initiatives.

“We are excited to have Rick join our executive leadership team, given his strong entrepreneurial background coupled with his extensive experience in market and product development,” said John Murphy, president and CEO of Accuride. “Following the successful integration of Transport Technologies Industries, Inc. and as we look beyond 2007, our strategic initiatives will continue to focus on growing Accuride’s business both organically and globally. We believe Rick’s keen strategic visioning ability and proven track record of translating value-added business propositions into sales will be a tremendous asset to Accuride and will assist us in achieving our growth objectives.”

Prior to joining Accuride Schomer served as principal of MR3 LLP, a business consulting firm specialising in market and product development.

21st August 2007/by Tyrepress Editors

Matador Motorsport Victorious at Pezinská Baba Hill Climb

Product News

During the weekend of 21 to 22 July, the European hill climb championships took place at Pezinská Baba. Matador entered the history books with several entries. One of them can be attributed to an excellent performance by Czech driver Marek Fried in the E1 category of touring vehicles.

Marek Fried (driving a BMW M3 GT3) collected absolute victory in the touring vehicle category with a time of 2:17.062 he broke the last year´s record set by Štefan Rosina junior. His victory is a triumph for Matador as well, since Fried has used the manufacturer’s tyres throughout the series. “The motivation for victory of our team was even greater at Baba, because it was our home environment and we used tires from Matador which were excel-lent,” said the team manager Robert Šenkýř after the event.

In the N-category of the hill-climb racing the victory was taken by the Slovak pilot of Matador Motorsport Peter Jureňa with Mitsubishi Lancer EVO IX. With overall combined time of 4:50.077. First runner up was Miroslav Jakeš, 2,100 ahead of third-place Jiří Voves.

10th August 2007/by Tyrepress Editors

Hangzhou Zhongce Respond to Start of Recall

Product News

Chinese tyre manufacturer Hangzhou Zhongce Rubber has released its response to the commencement of the US recall involving approximately a quarter of a million tyres produced by the company.

“Hangzhou Zhongce Rubber Co. (HZR) has a long record of producing high-quality, safe and reliable products. HZR has fully cooperated with the National Highway Transportation Safety Administration (NHTSA) to provide information on the scope of the recall and the design history of the products involved. While HZR has not found any evidence that the LTR tyres at issue contain any structural defects or are missing any safety features, because FTS has initiated a recall, consumers who own tyres within its scope should bring them into their dealer to have them checked.

10th August 2007/by Tyrepress Editors

Hangzhou Zhongce Rubber Cooperating with NHTSA

Product News

Hangzhou Zhongce Rubber Co. (HZR) has issued a statement detail its “ongoing cooperation” with the National Highway Transportation Safety Administration (NHTSA), following the news that some of its pickup truck sizes are being recalled in the US. According to the statement, HZR has provided the agency with more details and data showing that its LTR tyres sold in the United States are safe. “HZR has a long record of producing high quality, safe and reliable products. Because of this commitment to our customers, HZR continues to collect and share information that it believes offers clarity regarding the quality of HZR tyres,” the statement continued.

The Chinese manufacturer, the second largest in the People’s Republic, also cast doubt on the thoroughness of the allegations made against it. “HZR takes the allegations made by Foreign Tire Sales Inc. (FTS) very seriously. FTS submitted a defect report to NHTSA even though FTS lacked the necessary data to make an informed conclusion about the safety of the tyres. We will continue to provide NHTSA with information needed to make a more accurate assessment about the quality and safety of the tyres,” the statement concluded.

According to HZR, “many” tyre distributors have stepped forward to extol the quality and durability of HZR tyres.

6th August 2007/by Tyrepress Editors

Sales Up, Profits Posted, Titan Eyes 73.5-Inch Tyre

Product News

(Akron/Tire Review) Titan International posted record first half sales of $436.6, up 22 per cent from the same period last year, but dropped only $2.5 million in net profits for the period, down from a $14.2 million net profit in the first half of 2006.

Titan said its total sales for second quarter 2007 were $210.3 million, up 20 per cent from the $175.2 million in sales posted for the second quarter of 2006. Net income for the quarter was $5.0 million, down slightly from 2006’s $5.6 million.

“The second quarter has been very exciting for Titan,” said Maurice Taylor, Titan’s chairman and CEO. “Our sales are up, as they should be from last year’s acquisition. We are expanding our OTR business and adding new OTR products by expanding capacity in Freeport, Illinois. While this is happening in Freeport, certain farm tyres are being transferred to our Des Moines facility.”

31st July 2007/by Tyrepress Editors

Former BKT CEO & Equity Firm Buy Alliance Tire

Career Tracks

Former Balkrisha Tyres CEO Yogesh Mahansaria and global private equity company Warburg Pincus have jointly acquired Israel’s Alliance Tire Co. for approximately US$150 million. The new owners intend to establish a greenfield facility in India to complement the agricultural and OTR tyre specialist’s existing Israel based production, with the facility in India serving as a site for the low cost sourcing of products.

Joseph Anglister, president of Alliance Tire said “we welcome the new ownership. An investment by a leading international investor such as Warburg Pincus combined with Yogesh Mahansaria’s extensive experience in the off-highway tyre industry will provide an impetus to our long-term objective of growing Alliance’s product library, strengthening our relationship with existing customers and tapping new markets.”

12th July 2007/by Tyrepress Editors

SEMA: Record Number of Manufacturers Expected at Show

News

(Akron/Tire Review) SEMA announced that a record numbers of manufacturers have requested priority space for the 2007 SEMA Show. The event, which takes place this year from Oct. 30 to Nov. 2 in Las Vegas, is expected to feature more than 2,000 manufacturers. A total of 1,835 companies participated in this year’s priority space selection process, which began in April and concluded in May. That is about 100 more than had participated in previous years, SEMA said.

“Never before have so many companies come to us so early in the year and committed to participating in the SEMA Show,” said Peter MacGillivray, SEMA vice president of marketing and communications. “These exhibitors will be bringing with them thousands and thousands of new products – all which will debut at the SEMA Show in Las Vegas.”

Limited space is still available, and new manufacturers are continuing to sign up, according to SEMA. A complete list of SEMA Show exhibitors and floor plan can be found online at www.SEMAshow.com. The Web site also includes updates and information about the event, as well as an online registration form.

11th June 2007/by Tyrepress Editors

TRIB Changes Mission Statement

Product News

(Akron/Tire Review) The Tire Retread & Repair Information Bureau (TRIB) is changing its mission statement to “Promoting the safety, economic and environmental benefits of retreading and tyre repairing worldwide.”

“We believe this new mission statement better reflects our mission, especially in view of the continued improvements in retreading and tyre repairing over the past few years,” said Harvey Brodsky, TRIB’s managing director.

“Today’s top-quality retreads have a safety and performance record that will stand up to the best new tyres, and we want to let the motoring public worldwide understand that retreads offer an environmentally friendly and money saving alternative to higher-priced new tyres, without sacrificing safety, performance or handling. Also, tyres that are properly repaired by top-quality companies are able to complete their full useful lives with no compromises,” he added.

8th June 2007/by Tyrepress Editors

Brityrex 2007 Hugely Successful – Hofmann Megaplan

Premium, Product News

Wheel & tyre equipment specialists Hofmann Megaplan enjoyed another successful show at this years Brityrex exhibition. The company believes this year’s event to be every bit as good as the 2005 exhibition, which Managing Director James Boon labelled at the time as the best show he had ever attended. “Brityrex 2005 was a hard act to follow for us, but the move to Manchester this year and all the improvements that went with it means that without doubt 2007 will prove to be even better both in terms of immediate sales and long term projects,” commented Mr. Boon.

“I think it’s a huge disappointment that this show doesn’t get more support from the tyre manufacturers, and the effort put in by everybody else really and truthfully puts them to shame for not supporting such an event. That said, the quality of visitor and atmosphere of the new venue ensured we had another great exhibition, and I think the organisers deserve some real praise for putting on a fantastic, well organised and high profile exhibition despite two years of negativity from many within the industry”.

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29th May 2007/by Tyrepress Editors

Incumbent NTDA Chairman to Outline Future Plans

Product News

Peter Gaster, managing director of King’s Road Tyres Group, and new NTDA chairman-elect, has told Tyres & Accessories that he will give details of his plans for the role during his speech at the NTDA Tyre and Fast Fit Awards (TAFF) tonight. Explaining that the speech will be short and to the point, Gaster.

2nd May 2007/by Tyrepress Editors

TEAM Systems back at Brityrex International ’07

Product News

TEAM Systems is back at Brityrex for 2007, maintaining a record of having exhibited at every show since the launch of the original TEAM software product back in 1993. “The fact that we keep coming back means that the show works for us,” says managing director Steve Greatrex. “It’s the ideal occasion for meeting customers, launching new products and keeping in touch with the industry, so for us Brityrex has always been an important date on the calendar.”

With over decade of consistent growth, Steve believes that the secret of TEAM Systems’ success is down to both the quality of the product and the service delivered by the team of experienced and qualified experts.

19th April 2007/by Tyrepress Editors

Bandag Announces Quarterly Dividend

Product News

(Akron/Tire Review) Bandag Inc. announced a regular quarterly dividend of US$0.34 per share on common stock and class-A common stock. The dividend is payable April 20 to shareholders of record at the close of business on March 27.

15th March 2007/by Tyrepress Editors

Prodrive Founder buys Aston Martin

Product News

One of the UK’s oldest automotive marques has changed hands for US$848 million. Aston Martin, founded in 1913 and most recently owned by Ford, has been sold to rally driver and founder of prodrive David Richards plus several smaller stakeholders. Ford retains a minority shareholding in the carmaker.

13th March 2007/by Tyrepress Editors

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