Reports: Kumho “struggling” to find CEO

Kumho Tire has been struggling appoint new company leadership after its previous chairman left following Doublestar’s purchase of the company.

According to Kumho Tire, the company will not appoint a new chairman at its pre-scheduled March shareholders meeting. Vice president Jeon Dae-jin will continue as the acting CEO in the interim.

Local news reports cite Kumho insiders as saying that Doublestar is working on finding a suitable candidate, but is “struggling” to find someone with the right combination of skill. According to the reports, in December Doublestar offered the role to former Korea Development Bank (KDB) senior vice president Lee Dae-hyun, but he declined following opposition from Kumho Tire’s union.

Read the source article at Tyrepress

Hankook Tire America Appoints Rob Williams As Senior Director Of TBR Sales

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Hankook Tire America Corp. has announced that tire industry veteran Rob Williams has joined the company as senior director of TBR sales. In his new role, Williams assumes oversight of all Truck and Bus Radial tire sales at Hankook. Representing Hankook Tire’s commitment to dealers and fleet customers, Williams will play in an integral part in growing product lines and securing new partnerships.

Read the source article at Aftermarket News

Goodyear acquires UK tire retail company, Weeting Tyres

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Goodyear announced it has acquired Weeting Tyres, a leading UK tire retail through its UK-based company, Goodyear Dunlop Tyres UK.

Hans Vrijsen, MD Consumer, Goodyear Dunlop Tyres UK Ltd said: “The acquisition of Weeting Tyres strengthens the competitive advantage of Goodyear and HiQ by creating an even stronger value proposition for its customers. Goodyear is responding in a smart way to the market conditions. It also confirms the importance of retail to Goodyear’s business.

Read the source article at Traction News

Kerala Government plans Industrial Park for rubber products

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The Kerala Government plans to set up a first-of-its-kind Industrial Park for the manufacture of rubber products. This was announced by state Finance Minister Thomas Isaac while presenting the state Budget for 2019-20.

The Minister said a company will be registered this year itself on the pattern of Cochin International Airport Ltd (CIAL), the first airport built in the country with private participation.

Read the source article at Rubber Asia

The thinking behind Bridgestone’s TomTom Telematics acquisition

Bridgestone’s successful acquisition of TomTom Telematics follows earlier reports that both Michelin and Bridgestone were vying to buy the Telematics business unit from Netherlands-based company TomTom . In addition, according to Dutch financial daily Het Financieele Dagblad, Michelin was one of four in the running. For its part, Michelin was allegedly aiming to add the business into its Michelin Solutions portfolio.

Read the source article at Tyrepress

Continental Reclaims Spot on FORTUNE World’s Most Admired Companies List

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Continental reclaims its spot on FORTUNE magazine’s “World’s Most Admired Companies” list for the third year in a row in 2019.

It retains its top-five ranking in the motor vehicle parts category.

The company is known for excelling in areas like quality of products and management, social responsibility, people management and innovation.

Read the source article at Autosphere.ca

Continental Ag: A Speculative Buy – Continental Ag (OTCMKTS:CTTAF)

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Continental AG (OTCPK:CTTAF) is a high-quality German automotive manufacturing company specializing in tires and non-tire rubber products, auto parts, and future automotive technologies like autonomous driving and electric vehicle ecosystems. A confluence of factors, involving tariff threats from Trump, a cyclical slowdown in China, and production bottlenecks from EU emission regulations, has caused the stock to fall by almost 50%. The stock is now very cheap compared to its trading history, but the U.S. tariff threat looms large on the horizon. This article makes the argument for a speculative buy, where large gains could be made if U.S. tariffs don’t eventuate.

 

Read the source article at Stock Market Insights

LANXESS to buy back shares and strengthen pension assets

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The Board of Management of specialty chemicals company LANXESS decided to make use of the authorization granted by the stockholders’ meeting on May 20, 2016 and to acquire own shares of up to EUR 200 million (excluding incidental costs) via the stock exchange. On the basis of the current share price (status: January 9, 2019), this would amount to around 4.9% of the share capital and would correspond to a number of approximately 4.5 million own shares, LANXESS says in a Press release.

Read the source article at Rubber Asia

Bridgestone Names New VP

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Bridgestone Americas has announced that Tom Lehner has been named vice president, government relations, effective immediately. Lehner is responsible for the strategic direction and management of Bridgestone’s government relationships in the US, Latin America and Canada.

Read the source article at Autosphere.ca

Nokian Tires appoints new Finance lead for the Americas Region

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Nokian Tires announced it has hired Stephen DeCastro to lead North American financial operations from the company’s new office in Nashville, Tennessee. DeCastro will serve as Nokian Tires’ Head of Finance and Controlling for the Americas region.

“We are excited to welcome Stephen to our team,” said Nokian Tires Senior Vice President, Americas Mark Earl. “His experience will help us build scalable financial systems that will support our growth.”

Stephen DeCastro | © Nokian Tires

Read the source article at Traction News