PDIS organizes yard tour
The ProDealer Industry Summit, slated for Oct. 23-25 in Nashville, Tenn., will include a trip to Stewart Builder Supply for a boots-on-the-ground networking and education opportunity.
The Brentwood, Tenn., location of Stewart Builder Supply is welcoming PDIS attendees on Thursday Oct. 24, from 1:30 p.m. to 4:00 p.m.
The E.W. Stewart Lumber Co. was established in 1921. The business, a member committed to professional building contractors and all others who use their products. Stewart Lumber’s primary markets include Middle Tennessee and Southern Kentucky. Their locations that serve the different counties in the region allow for on-time delivery, and they can pick up material for credit within 48 hours.
Registration to the conference includes complimentary round trip transportation to Stewart Builder Supply in Brentwood.
The ProDealer Industry Summit is a national LBM event with the highest-quality dealers in the country. To learn more, visit Prodealer.com.
Spectrum’s appliance chief steps down
Terry L. Polistina, president of the Global Appliances division at Spectrum Brands Holdings, Inc., is stepping down following the completion of a months-long succession plan. He will continue to serve as a member of the company’s Board of Directors.
Effective Sept. 30, Polistina will leave the company on the heels of a successful multi-year restructuring and integration of the Global Appliances business. His planned departure has made way for a new management structure at the company, per a succession plan outlined earlier in the year.
“Terry has made valuable and significant contributions to our global continuous improvement, supply chain and new product development processes, and to our Company’s overall growth and strategic development,” said Spectrum CEO Dave Lumley. “Under his leadership, we exceeded our initial cost synergy estimates from the acquisition of Russell Hobbs and the subsequent integration of our Home and Remington Personal Care divisions. Our Global Appliances division has been streamlined, is achieving record annual cost savings this year, and is currently introducing a record number of new products across the world. We thank Terry for his leadership and wish him well. We are grateful he remains a director of the Company.”
Steve Fraundorfer will step in as VP and general manager for Global Appliances, reporting to Lumley. Fraundorfer, who has been with the company for 20 years, will oversee all North American Appliances sales and marketing, in addition to his existing responsibilities for Global Appliances business operations.
Meanwhile, Andreas Rouvé will maintain his role as president of the company’s International Appliances division and will continue reporting to Lumley.
Previously, Polistina was CEO of Russell Hobs and held several senior management roles at Applica Incorporated.
AGCO and Russian Machines form joint venture
AGCO is teaming up with Russian Machines on a new joint venture involving the manufacture and distribution of agricultural equipment in Russia.
Operations are expected to begin in early 2014 at a facility in Golitsyno, near Moscow. Together, the two companies will have equal ownership and will invest approximately $100 million over the next three years. The vision involves AGCO bringing more of its high-tech products to Russia, with Russian Machines facilitating production and local business development.
"This joint venture is a very significant step in AGCO’s growth strategy for the Russian market,” said Martin Richenhagen, AGCO chairman, president and CEO. “The agricultural sector in Russia has significant potential but needs modernization and efficiency gains. The joint venture between AGCO and Russian Machines is to join forces in bringing local farmers a wide range of professional farming equipment, technologies, services and solutions.”
The new manufacturing facility will have an area of 12.5 hectares, which includes 27,000 square meters of production facilities. There are also plans for a Model Farm and a training center for customers and dealers.
The venture is aimed at offering comprehensive agricultural solutions to medium and large-scale farmers, including financing, insurance and other support services.