Apollo Tyres ‘pleased’ with final dismissal of Cooper case

The legal dispute between Apollo Tyres and Cooper Tire & Rubber has now ended following the final dismissal of litigation filled by Cooper Tire against Apollo.

In a statement released 24 December 2014, Apollo Tyres wrote: “Pursuant to the ruling by Vice Chancellor Glasscock on October 31, 2014 that Apollo was not in breach of any of its obligations under the Merger Agreement, Apollo Tyres is pleased with last week’s final dismissal of the Delaware litigation filed by Cooper Tire and Rubber against Apollo whereby Cooper has expressly given up all its claims against Apollo, thus vindicating Apollo’s case.”

According to Apollo, the final dismissal “brings to a conclusion all the legal action that had been initiated against Apollo, which had consistently and diligently attempted to resolve all the issues that came up, to close the deal as per agreement.” The tyre maker says it will now pursue organic growth projects in Eastern Europe and elsewhere “without any overhang of the legal process in the United States.”