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Offtake agreement: Sailun Vietnam making TBR tyres for Cooper Tire

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Under a new multi-year manufacturing offtake agreement, the Sailun tyre plant in Vietnam will produce truck and bus radial (TBR) tyres for Cooper Tire & Rubber. Tyres produced for Cooper in the Sailun Vietnam Co., Ltd. plant will be manufactured under the Roadmaster, Dean and Starfire brand names and be sold in global markets. Cooper says the offtake agreement gives it a “third global source of TBR tyre production to meet growing customer needs.”

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Related news:

  1. Cooper Tire and Sailun announce Vietnam TBR tyre joint venture
  2. First TBR tyre produced by Cooper, Sailun Vietnam JV
  3. Sailun to build all-steel, OTR tyre plant in Vietnam
  4. Cooper Tire acknowledged for BoD female representation
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Bialek named Cooper Tire’s treasurer

The Board of Directors of Cooper Tire & Rubber Company has elected Jerry Bialek to serve as vice-president and treasurer. Bialek’s appointment takes effect 1 February 2018 and will be in addition to his leadership of Cooper Tire’s investor relations. He replaces Tom Lause as treasurer following the latter’s retirement from Cooper Tire on 31 January.

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  1. Cooper appoints Hughes as COO
  2. Cooper Tire’s Roy Armes to retire
  3. Cooper Tire promotes Ceneviz, names Yang as Tsaur’s successor
  4. Cooper Tire & Rubber appoints new CFO
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Cooper Tire & Rubber posts Q3 2017 results

Cooper Tire & Rubber Company has reported a net income of US$62 million (diluted earnings per share of $1.18) for the third quarter of 2017, up 26.5 per cent from a year earlier.

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  1. Cooper Tire: Raw material costs deflate profit in Q1 2017
  2. Cooper Tire: Earnings affected by tax reform in 2017
  3. Cooper Tire: Manufacturing costs, lower volumes hold back Q1 2018 profit
  4. Cooper Tire: Sales, income lower in Q2 2018
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Cooper Tire & Rubber issues 2016 Global Sustainability Report

In its Corporate Social Responsibility (CSR) and Sustainability report for 2016, titled ‘Responsibility the Cooper Way’, Cooper Tire & Rubber reports that its energy usage intensity has been reduced by 18 per cent since 2009, while the intensity of water used in its tyre production has decreased seven per cent. During the same period, Cooper’s landfill usage intensity has decreased nearly 30 per cent and its greenhouse gas emissions intensity are down 12 per cent.

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  1. Cooper Tire & Rubber issues 2016 Global Sustainability Report
  2. Cooper Tire: Earnings affected by tax reform in 2017
  3. Cooper Tire: Manufacturing costs, lower volumes hold back Q1 2018 profit
  4. Cooper Tire acknowledged for BoD female representation
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Cooper Tire & Rubber issues 2016 Global Sustainability Report

In its Corporate Social Responsibility (CSR) and Sustainability report for 2016, titled ‘Responsibility the Cooper Way’, Cooper Tire & Rubber reports that its energy usage intensity has been reduced by 18 per cent since 2009, while the intensity of water used in its tyre production has decreased seven per cent. During the same period, Cooper’s landfill usage intensity has decreased nearly 30 per cent and its greenhouse gas emissions intensity are down 12 per cent.

Read more

Related news:

  1. Cooper Tire & Rubber issues 2016 Global Sustainability Report
  2. Cooper Tire: Earnings affected by tax reform in 2017
  3. Cooper Tire: Manufacturing costs, lower volumes hold back Q1 2018 profit
  4. Cooper Tire acknowledged for BoD female representation
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Cooper Tire: Raw material costs deflate profit in Q1 2017

Although its revenues remained at roughly the same level as a year earlier, Cooper Tire & Rubber experienced a 46.2 per cent year-on-year drop in operating profit during the first quarter of 2017. The largest contributor to this unfavourable result was raw material costs which, net of price and mix, removed $42 million from the result.

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Related news:

  1. Cooper Tire: Manufacturing costs, lower volumes hold back Q1 2018 profit
  2. Cooper Tire: Sales, income lower in Q2 2018
  3. Cooper Tire & Rubber posts Q3 2017 results
  4. Cooper Tire: Earnings affected by tax reform in 2017
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Cooper completes GRT shareholding purchase

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Cooper Tire & Rubber has completed its purchase of a 65 per cent interest in China-based Qingdao Ge Rui Da Rubber Co., Ltd. (GRT). GRT produces truck and bus radial tyres for global markets and will manufacture these to meet Cooper’s customer needs in North America, as well as in Asia and other markets. In the future, passenger car tyres may also be manufactured at the one-million-square-foot GRT facility, which has room for further expansion.

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  1. Cooper Tire acquiring majority share in Chinese truck tyre maker
  2. Apollo Cooper takeover on the rocks
  3. Cooper: Chengshan worth US$440 million, say valuers
  4. Cooper Tire closes Cooper Chengshan sale
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Scholarship to honour outgoing Cooper Tire boss

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The Cooper Tire & Rubber Foundation, the philanthropic arm of Cooper Tire & Rubber Company, has established a new scholarship in recognition of soon to retire chairman, chief executive officer and president Roy Armes. The fund is known as the Roy V. Armes scholarship and is designed to assist the children of Cooper employees in the USA who intend to read either business or engineering at an accredited four-year college or university. The first Armes scholarship will be awarded in 2017.

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Related news:

  1. Chinese JV exit gives Cooper Tire flexibility to plan for a changing tyre market
  2. Cooper Tire acquiring majority share in Chinese truck tyre maker
  3. Cooper Tire Awards Annual Roy V. Armes, Centennial scholarships
  4. Cooper Tire board elects new treasurer
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Cooper Tire’s Roy Armes to retire

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Roy V. Armes, chairman, chief executive officer and president of Cooper Tire & Rubber, has announced his intention to retire on 31 August 2016. According to the company’s succession plan, the Cooper Board of Directors will appoint incumbent chief operating officer Bradley E. Hughes to the roles of president and chief executive officer effective upon Armes’ retirement, and Hughes is also expected to join the Board of Directors at that time. Thomas P. Capo, who is now lead independent director, is expected to become the Board’s non-executive chairman upon Armes’ retirement.

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Related news:

  1. Cooper Tire acquiring majority share in Chinese truck tyre maker
  2. Chinese JV exit gives Cooper Tire flexibility to plan for a changing tyre market
  3. Giti enters the top 10 of leading tyre manufacturers
  4. Study: Guayule tyre performance “at least equal” to conventional rubbers
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Cooper Tire acquiring majority share in Chinese truck tyre maker

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It’s now over a year since Cooper Tire & Rubber completed the sale of its share in the Cooper Chengshan (Shandong) Tire Company Ltd joint venture. At the time, company chairman, chief executive and president Roy Armes mentioned that Cooper would “identify and develop alternative sources” for the tyres produced at the Cooper Chengshan plant; he identified a further joint venture as one potential option. The tyre maker reports it has realised this alternative source and has entered into an agreement to purchase a majority of China-based Qingdao Ge Rui Da Rubber Co., Ltd (GRT).

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Related news:

  1. Chinese JV exit gives Cooper Tire flexibility to plan for a changing tyre market
  2. Cooper: Chengshan worth US$440 million, say valuers
  3. Chengshan to buy out Cooper for US$286 million
  4. Chengshan forms new JV with investment group
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Fate distributing Cooper tyres in Argentina – production, research collaboration may follow

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The signing of a letter of intent between Cooper Tire & Rubber and Argentine tyre maker Fate opens the door to a number of cooperative possibilities, including joint research and development and the offtake production of Cooper tyres in Argentina. Initially, however, the two companies’ work together involves Fate serving as a distributor of Cooper-branded passenger car, light commercial vehicle and SUV tyres in Argentina alongside its own tyre portfolio.

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Related news:

  1. Cooper Tire sets up Brazilian sales office
  2. Standing Out From the Crowd
  3. Conti to End Argentina Licensing Partnership
  4. First TBR tyre produced by Cooper, Sailun Vietnam JV
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Retail service centres to boost Cooper Tire’s brand recognition in China

Cooper Tire & Rubber has shared news of its work with tyre dealers in China to elevate Cooper brand awareness amongst consumers, including the many first-time car buyers in this enormous market. The tyre maker says that over the past eight months it has collaborated with dealers to introduce a new retail concept. So far this has led to the opening of four Cooper ‘Superfeel Centers’ in China. The first of these outlets opened in Shanghai in November 2014, and this was followed by centres in Shandong (January 2015), Beijing (March 2015) and Chengdu (July 2015). These four sites will be joined by two more Superfeel Centers, in Baoding and Inner Mongolia, by the end of this year.

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Related news:

  1. Chinese JV exit gives Cooper Tire flexibility to plan for a changing tyre market
  2. Cooper completes GRT shareholding purchase
  3. De Vries: “Navitrac is Coming to Europe“
  4. Cooper Tire acquiring majority share in Chinese truck tyre maker
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Cooper appoints Hughes as COO

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On 30 January Cooper Tire & Rubber Company has appointed has promoted Brad Hughes into the newly created position of senior vice president and chief operating officer, effective immediately. In this role, Hughes has responsibility for Cooper’s worldwide operations throughout North America, Asia, Europe and Latin America. He has been with the company for five years, beginning in 2009 as chief financial officer. In July 2014, he was appointed to lead the company’s International segment as president—International Tire Operations.

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Related news:

  1. Offtake agreement: Sailun Vietnam making TBR tyres for Cooper Tire
  2. Cooper Tire acknowledged for BoD female representation
  3. Cooper Tire to become 100% owner of Mexico JV tyre plant
  4. Cooper Tire acquiring majority share in Chinese truck tyre maker
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Chinese JV exit gives Cooper Tire flexibility to plan for a changing tyre market

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In recent weeks and months, Roy Armes has voiced on a number of occasions that Cooper Tire & Rubber still views China as an important part of the company’s future plans, despite its experiences at the Cooper Chengshan Tire (CCT) joint venture factory in 2013. Most recently, the chairman, chief executive officer and president confirmed during a conference call on 4 December that the country “will continue to be an important part of our long-term growth strategy.” But that doesn’t mean Cooper Tire can’t or won’t adjust its activities in China to meet global market conditions. In light of a new round of tariff measures in the US, which came into effect shortly after Cooper Tire sold its 65 per cent share in CCT, the company has shifted some of its production from China to other global locations, and it will continue to do so should conditions favour this strategy.

Membership Required

If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. Cooper Tire acquiring majority share in Chinese truck tyre maker
  2. Cooper Tire gives Chengshan option to buy, values CCT at US$435 million
  3. Cooper: Chengshan worth US$440 million, say valuers
  4. US imposes Chinese tyre import tariffs
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Cooper Tire names Ginger Jones its new CFO

The board of directors at Cooper Tire & Rubber has elected Ginger M. Jones to the position of vice-president and chief financial officer, effective today. Jones succeeds Brad Hughes, who in July of this year was appointed president of the company’s International Operations.

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Related news:

  1. Cooper Tire board elects new treasurer
  2. Cooper Tire & Rubber appoints new CFO
  3. Chinese JV exit gives Cooper Tire flexibility to plan for a changing tyre market
  4. Cooper Tire acquiring majority share in Chinese truck tyre maker
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