The Federation of Engine Remanufacturers (FER) has announced its annual general meeting will take place on Saturday, 7 October at IAAF offices in Birmingham. The Federation, which celebrates its 80th anniversary in 2017, has added new members this year and held very successful regional meetings, providing members with an insight into FER activity and discussing key policy.
The National Association of Motor Auctions (NAMA) held its annual AGM on 20 May in Belfast. A charity auction in aid of automotive industry charity BEN took place following the AGM, raising a record-breaking £17,450.
A1 Motor Stores is expecting a full house at its 2016 convention, which will take place at the Grand Hotel Majestic on the shore of Lake Maggiore on 27-30 September. A mixture of members and suppliers will attend the programme of supplier workshops, the Annual General Meeting and informal get-togethers for the Independent Bike Group and A1 Motor Factor Group.
The Nomination Committee of Trelleborg AB has decided to propose that Johan Malmquist, Gunilla Fransson and Susanne Pahlén Åklundh be elected as new members to the Board at the company’s 2016 Annual General Meeting on 21 April. Furthermore, the Committee proposes the re-election of Board members Hans Biörck, Jan Carlson, Sören Mellstig, Peter Nilsson, Bo Risberg and Anne Mette Olesen. It is proposed that Sören Mellstig be re-elected as Chairman of the Board.
Falling natural rubber prices have driven output in India down, and many anticipate that tapping of natural rubber will soon reach its lowest point in almost two decades. Last month the state of Kerala announced an Rs 150 (£1.51) per kilogramme subsidy to help small-scale producers, however Onkar Kanwar believes that subsidy programme such as this can only be of limited help.
Shareholder approval for Titan International’s reincorporation in the US state of Delaware was given at the company’s annual meeting of stockholders on 4 June, clearing the way for the off-road tyre manufacturer to take advantage of the state’s more flexible tax laws. Stockholders also elected Anthony L. Soave to serve as a company director for a three-year term and voted to ratify Grant Thornton LLP as the company’s independent registered public accounting firm for 2015.
At Delticom’s Annual General Meeting in Germany yesterday, shareholders were informed that the online tyre retailer would distribute a dividend of € 0.25 per share for the 2014 financial year – only half that of the previous year. This smaller dividend particularly reflected a three-quarter drop in net profit – a decline “mainly due to the higher cost base after the Tirendo acquisition.” Andreas Prüfer, head of the company’s board of management, also told shareholders that the Tirendo business concept “of achieving 50 per cent or 100 per cent growth in the online tyre market through high advertising and personnel expenses did not prove successful.”
For the last two years, wheel manufacturer Superior Industries International Inc. has faced a shareholder proxy challenge at its Annual General Meeting. On each occasion the company’s largest institutional shareholder, GAMCO Asset Management Inc., presented rival candidates to Superior Industries’ own nominees for directorship. And while GAMCO’s efforts failed both times, it is hoping for third time lucky at the 2015 AGM on 5 May. In strongly-worded letters dated 30 March and 7 April, Superior Industries has urged its shareholders to once again reject the GAMCO-backed candidates and vote for its own nominees.
At Nokian Tyres’ Annual General Meeting yesterday, it was decided that shareholders will receive a dividend of €1.45 per share for the financial year ending 31 December 2014. This is the same amount as paid out per share for the 2013 and 2012 financial years. The dividend will be paid to shareholders included in the shareholder list maintained by Euroclear Finland Ltd on the record date of 10 April 2015. The dividend payment date is 23 April 2015.
Onkar Kanwar has used the opportunity afforded by his company’s 41st Annual General Meeting to share Apollo Tyres’ view of why the planned acquisition of Cooper Tire & Rubber never materialised. The Apollo chairman also spoke on upcoming plans and the market opportunities and challenges the tyre maker has identified.
At Nokian Tyres’ Annual General Meeting on 8 April 2014, the company’s financial statements for 2013 were accepted and the Board of Directors and the President and CEO discharged from liability. The meeting decided that a dividend of €1.45 per share shall be paid for the period ending 31 December 2013. The dividend shall be paid to shareholders included in the shareholder list maintained by Euroclear Finland Ltd on the record date of 11 April 2014. The dividend payment date is 25 April 2014.