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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, Tupelo0 Comments

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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

Cooper Tire: Chinese plant now entering financial data

Last week, Cooper Tire & Rubber Co. said its Chinese joint venture plant was beginning to make Cooper-branded tires again.  Now the Findlay, Ohio-based tire manufacturer says the plant, Cooper Chengshan (Shandown) Tire, or CCT, is starting to enter financial and operational data it refused to do since July. The 5,000 Chinese workers had gone […]

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

Chinese tire plant making Cooper-branded tires again?

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 […]

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Posted in Cooper Tire, International, Manufacturing, Mergers & acquisitions, National, Northeast Mississippi, Tupelo1 Comment

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