Archive | Cooper Tire

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Cooper Tire investing nearly $2M in expansion at Tupelo plant

Cooper Tire & Rubber Co. is investing nearly $2 million to expand its plant in Tupelo. The project will add 14,000 square feet to the southeast side of the manufacturing facility on South Green Street. Anne Roman, vice president of communications and public affairs for Cooper Tire, said, “Cooper has been making investments in our manufacturing facilities […]

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Posted in Business news, Cooper Tire, Economic development, Employment and jobs, International, Manufacturing, National, Northeast Mississippi, Tupelo2 Comments

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Lawsuit over failed Cooper Tire merger dismissed

A federal judge has dismissed a securities class-action lawsuit filed by shareholders in the aftermath of Cooper Tire & Rubber Co’s failed merger with Apollo Tyres. Judge Richard G. Andrews ruled that the plaintiffs failed to prove their assertions that Cooper and top executives deliberately withheld information about the risks of the failed $2.5 billion merger. […]

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Posted in Business news, Cooper Tire, International, Manufacturing, Mergers & acquisitions, National, Northeast Mississippi, Tupelo0 Comments

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Cooper Tire profits increase; company announces stock buyback

Cooper Tire & Rubber Company (NYSE: CTB) today announced its net income for 2014 was $214 million, or $3.42 per share, versus $111 million, or $1.73 per share, in 2013. The results include a gain of $56 million its sale of the company’s 65-percent interest in a joint venture in China. Excluding that gain, earnings per share […]

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Posted in Business news, Cooper Tire, International, Manufacturing, National, Northeast Mississippi, Tupelo1 Comment

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Cooper Tire drops $112 million breakup fee bid

Cooper Tire last week dropped its lawsuit seeking $112 million from former suitor Apollo Tyres, which also dropped its countersuit. In June 2013, India-based Apollo offered $35 a share for Findlay, Ohio-based Cooper Tire in a deal worth about $2.5 billion. But the deal soon unraveled, as Cooper’s Chinese joint venture plant essentially went on […]

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Posted in Business news, Cooper Tire, International, Manufacturing, National, Northeast Mississippi, Tupelo0 Comments

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Cooper Tire sells interest in China joint venture for $262 million

Cooper Tire and Rubber Co. said today it has closed on a deal to sell its 65 percent stake in its joint-venture operation in China for $262 million. The Cooper Chengshan (Shandong) Tire Co., or CCT,  was a joint-venture between Cooper and Chengshan Group Co. The Wall Street Journal said last month  Chengshan was buying Cooper’s share for $284 million, […]

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Posted in Business news, Cooper Tire, International, Manufacturing, National, Northeast Mississippi, Tupelo1 Comment

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Cooper Tire drives to $48M profit in third quarter

Cooper Tire & Rubber Co., which employs 1,300 workers at its Tupelo manufacturing facility,  today reported third-quarter net income of $48 million, or 77 cents a share.  That compares to a loss of $168,000 for the same period last year, when the company was in the midst of  a merger with India-based Apollo Tyres. Cooper’s […]

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Posted in Business news, Cooper Tire, International, Manufacturing, National, Northeast Mississippi, Tupelo0 Comments

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Cooper Tire to sell stake in China plant for $284 million

Cooper Tire & Rubber Co. confirmed today that its joint-venture partner in China, Chengshan Group Co. Ltd., has exercised its option to buy Cooper’s 65 percent state in the Cooper Chengshan (Shandong) Tire Company Ltd, or CCT. According to the Wall Street Journal, Chengshan Group has offered to buy Cooper’s stake for $284.5 million. In […]

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Posted in Business news, Cooper Tire, International, Manufacturing, National, Northeast Mississippi, Tupelo1 Comment


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