Archive | Cooper Tire

Cooper Tire logo

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. […]

Read the full story

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

Cooper Tire logo

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 […]

Read the full story

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

Cooper Tire logo

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 […]

Read the full story

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

Cooper Tire logo

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, […]

Read the full story

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

Cooper Tire logo

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 […]

Read the full story

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

Cooper Tire logo

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 […]

Read the full story

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

Cooper Tire logo

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 […]

Read the full story

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


Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 3,586 other subscribers