Archive | Cooper Tire

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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, Tupelo0 Comments

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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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Cooper Tire makes executive leadership shift

Cooper Tire & Rubber Co. announced today that chief financial officer Brad Hughes is the company’s president – international operations. The international tire segment accounts for $1.2 billion for Cooper. Hal Miller – who was president-interational tire division – is now executive adviser to CEO Roy Armes. Miller will help the company determine the future ownership […]

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

Exclusive: Cooper Tire looking to upgrade Tupelo plant

Cooper Tire & Rubber Co. is seeking $20 million in state money, plus another $18 million from Tupelo and Lee County to upgrade its plant in Tupelo. As reported today by the Daily Journal’s Bobby Harrison, Cooper promises to keep at least 1,300 jobs for 10 years. The company, which has been in Tupelo since […]

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Posted in Business news, Community Development Foundation, Cooper Tire, Economic development, Employment and jobs, International, Manufacturing, National, Northeast Mississippi, Tupelo0 Comments

Cooper Tire, joint-venture partner reach agreement on Chinese factory

Cooper Tire has reached an agreement with its Chinese joint venture partner , the labor union and their shared facility, Cooper Chengshan (Shandong) Tire Co., or CCT.  Cooper owns 65 percent of the plant, but its partner put a halt to a $2.2 billion merger between Cooper and Apollo Tyres  late last year after it […]

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

Cooper Tire shareholders file lawsuit against company

Who didn’t see this coming? Some shareholders of Cooper Tire & Rubber Co. have filed lawsuits against the company over its failed merger with Apollo Tyres.  From TireBusiness.com: Two law firms have filed a securities class-action lawsuit against Cooper Tire & Rubber Co. on behalf of stockholders over the failed merger deal with India’s Apollo […]

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

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