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.
Eco Building Products sets sights on brushfire-prone Australia
Eco Building Products is expanding its market to Australia, with products hitting the shelves potentially before the end of the year via its Australian affiliate and sales agency, Eco Red Building Products Australia PTY LTD.
The company cited the country’s significant termite problem and the impending Australian summer, known for its brushfires and hot, dry climate, as a motivating factor in this strategic expansion.
"Australia has had its share of devastating events caused by fires, and we are very excited about introducing Eco Red Shield protected lumber products to this market," said Shawn Simmons, operations manager at Eco Red Building Products Australia. "We are certain that these products have the potential to protect many properties and lives, and are confident that the authorities also recognize the need."
"We see a huge demand in Australia for ECOB’s range of defensive products," added Damian Bartholomeusz, manager of finance & regulations in Australia. "Through ECOB, we see that we can educate the community that there are cost-effective solutions now available, capable of preventing and managing these seasonal disasters and the associated costly damage in their own back yard."
Steve Conboy, president and CEO of Eco Building Products, Inc., said the company plans to create demand first while determining where to set up the first coating facility.