COOPER TIRE news * USA: Purchasing China's JV
* USA - Cooper Tire buys stake in Chinese tire make
Cooper Tire & Rubber Co. said Thursday it has completed its $87 million purchase of a joint venture with a truck and bus tiremaker in China... Cooper’s 65 percent owner interest in Qingdao Ge Rui Da Rubber Co. (GRT) will increase Cooper’s production of truck and bus tires... It will produce truck and bus tires for Cooper’s customers in North America, Asia and elsewhere... Two years ago, Cooper’s former Chinese partner, Chengshan Group, bought Cooper’s 65 percent ownership in a huge plant for $284.5 million. Cooper and Chengshan had a falling out over the failed attempt by Apollo Tyres of India to buy Cooper in 2013...
(Photo: Avon ruber factory, part of the Cooper Tire Group) -- Findlay, OH, USA - The Courier - Dec 1st, 2016
Labels: tiremakers news