The Chinese tire plant that helped sink the Cooper Tire-Apollo Tyres merger last month may be producing Cooper-branded tires again. (Click here for previous coverage about the merger being called off).
The plant, Cooper Chengshan (Shandong) Tire Co., or CCT, is a joint-venture between Cooper Tire & Rubber Company and Chengshan Group of China that was founded in January 2006 in Rongcheng, China.
Apparently, some reports have surfaced that CCT is again producing Cooper tires after going on strike last July after the Apollo merger was announced.
Cooper hasn’t entirely cleared up the matter, issuing this statement earlier today:
Preliminary work to ramp up production of Cooper brands at CCT is taking place. While this is a step forward in resolving the issues there, Cooper is looking to the labor union and joint venture partner to assure that production will indeed resume in full and will continue uninterrupted. While restarting production of Cooper brands at CCT indicates positive progress, it is absolutely critical that actions are taken there to allow Cooper to resume regularfinancialreporting. This remains an open issue and we are working hardy o resolve it as our top priority.”