New president for Alliance Tire
DENVILLE, N.J.-Israeli farm and industrial tire maker Alliance Tire Co. (1992) Ltd. has named Yossi Anglister company president.
Mr. Anglister, who will be based out of company headquarters in Hadera, Israel, is known in international circles as a turnaround specialist, according to Alliance. Under his direction, metal fabricator and armament manufacturer Soltam Ltd. reversed a string of losses and tripled its sales from 1992-1999.
In the 1980s, Mr. Anglister worked for the Urdan Group, specializing in steel parts for military and civilian vehicles. He directed the Urdan companies to expand their lines to include a variety of commercial rubber products.
Mr. Anglister called Alliance ``a company with tremendous potential'' and cited its research and development capabilities, recently upgraded factory complex and its marketing network that extends into 65 countries.
Mr. Anglister, 56, replaces Zvika Meiri, who had been president and CEO of Alliance since August 2000. The company did not say why Mr. Meiri left.
The company's North American headquarters is in Denville.
Bill Bainbridge joins Hankook
WAYNE, N.J.-Former Toyo Tire (U.S.A.) Corp. executive Bill Bainbridge has joined Hankook Tire America Corp. as director of marketing, responsible for developing and executing marketing strategies and other programs for the company and its lineup of passenger, light truck and truck tires.
An industry veteran of more than 25 years, Mr. Bainbridge most recently was a regional sales manager for Toyo in North Carolina, Virginia and Maryland.
Prior to that he served as vice president of marketing for the Specialty Equipment Market Association (SEMA) from 1999-2001 and was Toyo's director of marketing from 1996-1999.
Mr. Bainbridge began his tire industry career in 1976 when he joined the former B.F. Goodrich Co. as a retail salesman in a company-owned tire store in Phoenixville, Pa.
Federal's sales jump 16.3%
TAIPEI, Taiwan-Federal Corp. reported a 16.3-percent increase in sales in the first quarter ended March 31, to $26.4 million, based on strong demand both domestically and from export markets.
The strong quarterly performance included a single month sales record, in March, of $10.7 million-a 21.8-percent jump over March 2002, according to President Jamie Ma. The company did not disclose any earnings data.
To support its growth, Federal has initiated production of Hero- and Maxon-brand passenger tires at its newest plant, in Jiang-Xi, China.
Federal said it plans to make incremental investments to expand that facility's production capacity to meet the booming demand in China and elsewhere.
Yokohama official tire for speedway
FULLERTON, Calif.-Yokohama Tire Corp. has signed on as the official tire of the Infineon Raceway track, the Fullerton-based tire maker said.
The multi-year partnership agreement gives Yokohama prominent signage and visibility at the facility, Yokohama said. Located near San Francisco, the recently remodeled speedway, formerly called Sears Point Raceway, is owned by Speedway Motorsports and averages activities 340 days a year.
Yokohama tires also will outfit all track support vehicles, including pace cars, staff vehicles and support trucks.
Since 1990, Yokohama has been a sponsor of the Jim Russell Racing Drivers School, which is based at the Infineon Raceway. The tire maker had supplied its ultra-high performance tires for the school's vehicles.
Titan posts loss, could be delisted
QUINCY, Ill.-Tire and wheel manufacturer Titan International Inc. has six months to get its share price back above $1 before potentially losing its listing on the New York Stock Exchange.
The NYSE requires a company's common stock trade at a minimum average share price of $1 over a 30-day trading period.
Titan shares had closed below $1 for 61 consecutive trading days from Feb. 3 through April 30, when the stock price closed at 80 cents per share.
The company also reported a loss of $5.9 million on net sales of $129 million for the first quarter of 2003 vs. a loss of $2.9 million on sales of $123.7 million for the year-earlier period.
Titan said the numbers were impacted negatively by higher raw material prices plus increased employee benefit and insurance costs accounting for more than $4 million in additional expenditures.