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TIRE MAKER NEWS * China / USA: Cooper finds new Chinese tire maker
* Ohio - Company will replace ex-partner
(Video by EK Powell - Aug 9, 2009: Formula D event 5 Seattle 2009. Quick vid of the Cooper Tires girls dancing)
-- A year after Cooper Tire & Rubber Co. severed ties with a Chinese plant that scuttled a merger the Findlay firm had with an Indian tiremaker, Cooper has found a new Chinese maker of bus and truck tires... The company announced Wednesday it has a purchase agreement to acquire 65 percent ownership of Qingdao Ge Rui Da Rubber Co. Ltd. That firm will be renamed Cooper Qingdao Tire Co. Ltd... The purchase and expected initial investments amount to $93 million, Cooper said... The transaction is expected to close within six months, but it requires permits and approvals by the Chinese government... The new Chinese plant, which Cooper said is capable of making 5 million to 6 million tires, will replace the production of bus and truck tires now done by another Chinese firm of which Cooper divested in late 2014...
Findlay, OH, USA - Toledo Blade - 7 Jan 2016
posted by Unknown @ 12:23 PM
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