Tk Aluminum Ltd, the majority shareholder in Teksid Aluminum, has named two new senior executives for the automotive components group. Francesco Rangoni, who is now president and CEO, will be promoted to vice chairman of Teksid Aluminum Ltd. and will oversee the company’s business development and direct implementation of middle and long-term strategic corporate initiatives.

Also, Joachim V. Hirsch was named as the new president of Teksid Aluminum. He will also become chief executive officer on January 1, 2004. Hirsch has more than 27 years of experience in the global automotive industry as an executive with TRW Corp., Magna Corp., and Textron Corp.

Teksid Aluminum produces cast aluminum components for automakers around the world, at 15 plants in the U.S., Italy, France, Poland, Mexico, Brazil, and Argentina, and joint ventures in China and Turkey. Among its products are aluminum cylinder heads, engine blocks, transmission cases, and suspension components. The business was formed in 2002 by investors who acquired the aluminum operations from Fiat S.p.A.’s Teksid subsidiary.