Cooper Tire: China plant strike won’t affect merger
Cooper Tire said an ongoing strike by workers at a Chinese plant will not affect its merger with India-based Apollo Tyres.
The plant has some 5,000 workers, and they’ve been striking since Apollo’s announcement in June that it would acquire Findlay, Ohio-based Cooper in a deal valued at about $2.5 billion.
Anne Roman, Cooper’s vice president of communication and public affairs, said in an email to media outlets, “The pending merger between Apollo Tyres and Cooper complies with all applicable laws and regulations. The transaction is on track and expected to close by the end of this year. This issue (strike) has no impact on the pending merger.”
She also said it’s business as usual for the company.
“Cooper is currently experiencing a temporary work stoppage at our plant in Rongcheng, China. All other Copper facilities in China, and throughout the rest of the world, continue to operate as normal.”
Cooper’s plant in Tupelo employs some 1,200 workers.
Roman said Cooper is continuing to work toward getting the Rongcheng plant operating again as soon as possible, .
“The pending merger will benefit all of Cooper, including those at the Rongcheng plant, as it will bring together two companies with highly complementary brands, geographic presence, and technological expertise,” Roman said.