China Tire Holdings Claim Is Dismissed
The Eastern Division of the Ohio District Court has rejected all claims by China Tire Holdings against Goodyear.
The Eastern Division of the Ohio District Court has rejected all claims by China Tire Holdings against Goodyear.
Hayes Lemmerz, the world’s leading supplier of wheels, has announced record 1999 fourth quarter and full year figures in both earnings and sales. The strong expansion of the wheel business (especially aluminium wheels) and the acquisition of CMI are the main reasons for the good results. Hayes Lemmerz also announced the contract for its sixth wheel/tire assembly facility: for BMW in Munich.
The PR Manager of Bridgestone/Firestone Germany, Cornelius Blanke, is leaving the company to join Wella AG (Darmstadt/Germany).
Financial analysts are predicting that Michelin’s net profits for 1999 will be between 350 million and 661 million Euros. The reason for the unusually large spread is that no-one knows exactly what provisions will be made in the accounts to cover charges for restructuring.
Titan International (Quincy, Illinois), manufacturer of wheels and tyres for off-highway vehicles, has announced a cash dividend of $ 0.015 for the first quarter of 2000. In 1999 Titan’s sales declined and a net loss was recorded.
Superior Industries (Van Nuys, Ca.) has taken on the Mitsubishi Motor Manufacturing of America (Normal, Il.) as a new customer for cast aluminium wheels.
The new Managing Director of ContiTech Vibration Control is Heinz-Gerhard Wente (49). Wente succeeds Dr. Volker Härtel, who has assumed new functions in Strategic Technology within the Continental group. The new Managing Director of ContiTech Power Transmission Systems is Konrad Müller (48). Also a member of the board of this division is Hans-Jürgen Duensing, formerly of ContiTech Conveyor Belt Systems.
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