Brad Hughes Archives - Tyrepress

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Cooper Tires relaunches plant after acquiring Mexico JV

After purchasing its former partner’s 42 per cent share in the Corporación de Occidente S. A. de C.V. (COOCSA) joint venture in Mexico, Cooper Tire & Rubber halted passenger and commercial vehicle production at the site and re-hired the workforce there as employees of Cooper Tires. Brad Hughes, the tyre maker’s president and chief executive officer, reports that Cooper Tires is “now in the process of ramping production back up” at the site. Restructuring the plant will cost the company around US$10 million, an expense that will mainly occur in the first quarter of 2020.

25th February 2020/by Stephen

Cooper completes acquisition of Mexico joint venture plant

International News

Cooper Tire & Rubber Company has completed the acquisition its Mexico joint venture tyre manufacturing facility, Corporación de Occidente S. A. de C.V. (COOCSA). The agreement to increase its shareholding from 58 to 100 per cent was announced on 1 November 2019.

27th January 2020/by Andrew

First TBR tyre produced by Cooper, Sailun Vietnam JV

Company News, International News

The joint venture between Cooper Tire & Rubber Company and Sailun Vietnam Co, Ltd has produced its first tyre. ACTR, facility located near Ho Chi Minh City, Vietnam.

27th November 2019/by Andrew

Cooper Tire to become 100% owner of Mexico JV tyre plant

Company News, International News

Cooper Tire & Rubber Company intends to completely acquire its joint venture tyre manufacturing facility in Mexico. It currently holds a 58 per cent share in Corporación de Occidente S.A. de C.V. (COOCSA), but has entered into a definitive agreement with partner Trabajadores Democraticos de Occidente S.C. de R.L. de C.V. (TRADOC) to acquire its 42 per cent stake. On Friday, a majority of TRADOC members voted in favour of the agreement.

4th November 2019/by Stephen

Cooper Tire releases 2018 Sustainability report

Cooper Tire & Rubber Company has published its seventh annual Corporate Social Responsibility (CSR) and Sustainability report. The report, titled ‘Responsibility the Cooper Way’, is the seventh such report from Cooper Tire.

29th August 2019/by Stephen

Cooper Tire acknowledged for BoD female representation

Company News, International News

US non-profit organisation 2020 Women on Boards has goldstarred Cooper Tire & Rubber as a Winning “W” Company for the level of female representation on its Board of Directors.

13th August 2019/by Stephen

Cooper Tire Awards Annual Roy V. Armes, Centennial scholarships

International News

Cooper Tire & Rubber Company has selected six high school seniors to receive scholarships to pursue higher education. The Roy V. Armes Scholarship, in the amount of $5,000, and five Cooper Centennial Scholarships, in the amount of $1,000 each, were awarded.

30th May 2019/by Andrew

Cooper Tire and Sailun announce Vietnam TBR tyre joint venture

Company News, International News

Cooper Tire & Rubber Company is to form a joint venture with Sailun Vietnam Co, Ltd to build a 2 million capacity truck and bus radial manufacturing plant. Subject to closing and government approvals, the facility will be located near Ho Chi Minh City, Vietnam, at the site of Sailun Vietnam’s existing operations, which early in 2018 signed an offtake agreement to produce Roadmaster, Dean and Starfire brand tyres for Cooper. The new announcement represents the latest move in a series of cooperative moves between the two firms – Sailun Jinyu invested in joining Cooper in its GRT JV in September.

12th December 2018/by Andrew

Cooper Tire & Rubber appoints new CFO

Christopher J. Eperjesy is joining Cooper Tire & Rubber Company as its chief financial officer and senior-vice president, effective 10 December. He will succeed Ginger Jones, whose intention to retire was announced earlier in the year.

15th November 2018/by Stephen

Sailun Jinyu joins Cooper Tire in GRT joint venture

In 2016, Cooper Tire & Rubber invested some US$93 million to acquire a 65 per cent shareholding in Qingdao Ge Rui Da Rubber Co., Ltd (GRT). The remaining 35 per cent share in the China-based truck and bus radial manufacturing operation was retained by Qingdao Yiyuan Investment Co., Ltd. (QYI), however QYI is now selling its stake in the business. Sailun Jinyu Group Co., Ltd. has signed a share transfer agreement with QYI to acquire its 35 per cent interest in GRT for RMB 220 million (£24.4 million, US$32.0 million), subject to government approval.

26th September 2018/by Stephen

Cooper Tire promotes Ceneviz, names Yang as Tsaur’s successor

Cooper Tire & Rubber Company has announced two international leadership appointments. Luis Ceneviz takes on a position of greater responsibility within the company, while Alan Yang returns to Cooper to fill the position made vacant by the impending retirement of Allen Tsaur.

31st August 2018/by Stephen

Cooper Tire: Sales, income lower in Q2 2018

The results reported by Cooper Tire & Rubber for the second quarter of 2018 were, says the company’s president and chief executive officer, “in line with our stated expectations.” It therefore came as no great surprise that net sales, operating income and net income were all lower year-on-year in the three months to 30 June 2018.

8th August 2018/by Stephen

Investor Day: Cooper Tires outlines strategies

At its Investor Day in New York last Friday, Cooper Tire & Rubber Company outlined strategies for continued shareholder value creation. Management detailed plans to support five-year mid-term targets for operating profit of ten per cent to 14 per cent as well as annual unit volume growth in the low- to mid-single digits and return on invested capital of 14 per cent to 16 per cent.

14th May 2018/by Stephen

Cooper Tire: Manufacturing costs, lower volumes hold back Q1 2018 profit

Cooper Tire & Rubber reports achieving net sales of US$601 million in the first quarter of 2018, a 6.5 per cent decrease on a year earlier. The tyre maker states that net sales were negatively impacted by $39 million of lower unit volume and $20 million of unfavourable price and mix, partially offset by $17 million of favourable foreign currency impact.

2nd May 2018/by Stephen

Cooper Tire: Earnings affected by tax reform in 2017

Cooper Tire & Rubber Company has reported full year 2017 net income of US$95 million, or diluted earnings per share of $1.81, a 61.7 reduction on the $248 million earned the year before. Income was affected by tax reform in the USA; the tyre maker states that excluding these discrete tax items, earnings per share would have amounted to $3.10.

22nd February 2018/by Stephen