You are here: / Cooper Chengshan

Posts

Cooper Sees Q2 $22 Million Net Loss

Cooper Tire & Rubber Company has reported a second quarter loss of $22 million – or 38 cents per share – though net sales reached record $773 million, an increase of $43 million over the prior year.

The increased revenues were partially the result of pricing and improved mix offset by decreased tyre unit volumes in North America. Cooper faced intense challenges during the quarter that adversely affected operating results, including record-high raw material costs, increased utility costs, and weak market demand in North America. Raw material shortages also led to Cooper’s decision to temporarily curtail production during the quarter in North America.

Read more

Related news:

  1. Enhancing a Global Position
  2. Cooper Names Ron Shield as Interim VP, Asian Operations
  3. CITExpo 2006 to Be Held Concurrently with Automotive Testing Expo
  4. China in the firing line
/by

Cooper Steel Cord Plant Share Included in ArcelorMittal Purchase

The acquisition of steel cord manufacturer Rongshen Chengshan Steel Cord by ArcelorMittal, announced on October 15, includes the 25 per cent stake in the Chinese company held by a wholly owned local subsidiary of Cooper Tire & Rubber. Cooper has disclosed it received US$7.4 million for its quarter share, which the manufacturer parted with in order to place a greater focus upon its core tyremaking business.

Cooper Tire’s acquisition of 51 per cent of Cooper Chengshan (Shandong) Passenger Tire Company, Ltd., and Cooper Chengshan (Shandong) Tire Company, Ltd., was completed in early 2006 and included a 25 per cent ownership position in the steel cord factory, which is located adjacent to the tyre manufacturing facility in Rongcheng City, Shandong Province.

Read more

Related news:

  1. Baldwin Takes Over at Cooper Europe
  2. ABB to Run Maintenance at Cooper’s Georgia Plant
  3. Cooper Names Ron Shield as Interim VP, Asian Operations
  4. Cooper Contracts Sapphire for Waste Tyre Disposal
/by

Two New China Execs for Cooper Tire

Cooper Tire has named two new executives for its operations in China. Andrew Weiwen Chen has been appointed the new deputy general manager for Cooper Chengshan Tire Company, as well as director of finance for Cooper China. Mr. Chen’s primary association will be with Cooper Chengshan, although he will also have some financial responsibilities for Cooper’s China operations.

Reporting to Chuck Taylor, Cooper Chengshan’s general manager, and Jerry Long, chief financial officer for Cooper Asia, Mr. Chen will manage business planning and analysis, accounting and reporting, budget preparation, and treasury requirements.

Read more

Related news:

  1. Wang Takes on Cooper Kenda Controller Role
  2. Cooper Q1 revenue, operating profit down year-on-year
  3. Cooper Sales, Profits Up for Quarter
  4. Cooper Sees Q2 $22 Million Net Loss
/by

Cooper Names Ron Shield as Interim VP, Asian Operations

Cooper Tire & Rubber Co. has named Ron Shield as interim vice president and general manager for the company’s Asian Operations. A 20-year employee, Shield joined the company’s Avon Tyre organization as a tyre consultant with responsibility for establishing a Pakistan operation. Through the years Shield held various management positions including business development director, with responsibilities for logistics, supply chain, international business development, information technology and new product introduction. In 2001, he was named vice president, European Operations, and managing director for Cooper Tire Europe, with responsibility for the entire European operation.

“Ron Shield’s success in Europe, as well as his extensive international experience, make him well-qualified to manage and continue the success of our Asian footprint,” said Hal Miller, president, International Tire Division.

Read more

Related news:

  1. Cooper Finalises Chengshan Purchase
  2. Cooper Sees Q2 $22 Million Net Loss
  3. Bridgestone To Invest In Thailand Too
  4. Chadha Rubber: Diversified Group
/by

Cooper Turns-Out $21 million Net Income in First Quarter

Cooper Tire & Rubber Company has reported net income of $21 million or 33 cents per share for the quarter ended March 31, 2007. The dramatically improved earnings were achieved as total sales increased by 16 per cent to a new first quarter record of $689 million. This compares to a net loss of $5 million generated on sales of $597 million in the first quarter of 2006.

During the quarter the company continued to benefit from the cost reduction and profit improvement initiatives it announced in September 2006 as well as improved price and mix in North America, and increased tyre unit sales in Europe and Asia. As a result, operating profit improved to $30 million in the first quarter of 2007 compared to an operating loss of $4 million in the first quarter of 2006.

Read more

Related news:

  1. Cooper Sales, Profits Up for Quarter
  2. Cooper Reports Q3 Profit & Record Sales
  3. Cooper Drops Starfire Brand in North America
  4. Cooper Sees Q2 $22 Million Net Loss
/by

Sales Up, But Cooper Still Posts Larger Loss

(Akron/Tire Review) Despite seeing positive returns from its new operations in China, Cooper Tire & Rubber Co. still posted a large loss for fiscal year 2006. The company reported full-year sales of $2.7 billion, up 24% from the year prior, but a net loss of $79 million, compared to a 2005 net loss of just $9 million.

Read more

Related news:

  1. New Process Improvement Chief Named by Cooper
  2. Cooper Saiyang – a new joint venture
  3. Two New China Execs for Cooper Tire
  4. Cooper Sales, Profits Up for Quarter
/by

Cooper Posts $25 million 3Q Net Loss

Cooper Tire & Rubber Co. reported a $25 million net loss in the third quarter of 2006 despite quarterly sales improving 28 per cent to $716 million. Through the first nine months of 2006, Cooper posted a net loss of $51 million against sales of $1.9 billion, up 22 per cent versus the same period of 2005. Sales at Cooper Europe reached $80 million, up more than 14 per cent compared to the same period last year. The increase in European sales is said to have been the result of approximately 3 per cent higher unit volume, the impact of prices increases and favourable exchange rates.

Cooper said the quarterly loss was due to a number of factors, including costs associated with North American inventory adjustments; $5 million in severance paid to former chairman, president and CEO Tom Dattilo; expenses related to closing its Athens, Georgia, plant; and the restructuring of its European operations.

Read more

Related news:

  1. Cooper Idles All Four US Plants
  2. Cooper Increases Sales, But Posts Loss for Half
  3. Michelin Initiates Prices Increases
  4. Analysts: Cooper Stock Worth ‘A Second Look’
/by

Cooper Increases Sales, But Posts Loss for Half

(Akron/Tire Review) On the same morning that its chairman, president and CEO resigned, Cooper Tire & Rubber Co. released its first half and second quarter 2006 financial results. For the first half, the company posted sales of $1.2 billion, up 19 per cent over the same period last year. But Cooper posted a net loss of $26 million for the half. Second quarter sales of $625 million were up 22 per cent year-to-year, and were driven largely by Cooper’s business in China, the company said. Cooper acquired Cooper Chengshan (Shandong) Passenger Tire Co. and Cooper Chengshan (Shandong) Tire Co. in February.

Read more

Related news:

  1. Cooper Net Sales up 16 per cent
  2. Cooper Posts $25 million 3Q Net Loss
  3. Cooper Tire: 2013 figures show impact of ‘unique challenges’
  4. RubberNetwork Announces 2004 Results
/by

Cooper Net Sales up 16 per cent

(Akron/Tire Review) Cooper Tire & Rubber Co. announced that net sales set a new quarterly record of $597 million for the three months ending on Mar. 31, compared to $514 million in the same period of 2005.

Cooper said its acquisition of Cooper Chengshan (Shandong) Passenger Tire Co. Ltd. and Cooper Chengshan (Shandong) Tire Co., Ltd. increased sales by $48 million in the quarter, and higher prices, improved product mix, and higher unit sales volumes in North America and Europe added $39 million.

Read more

Related news:

  1. Cooper Sees 3Q Results Fall
  2. Cooper Increases Sales, But Posts Loss for Half
  3. Cooper Reports Q3 Profit & Record Sales
  4. Dongah Tire & Rubber Acquires Avon Automotive Vibration Business
/by

Cooper Finalises Chengshan Purchase

Cooper Tire & Rubber Company today announced that its acquisition of 51 per cent of Cooper Chengshan (Shandong) Passenger Tire Co, Ltd, and Cooper Chengshan (Shandong) Tire Company, Ltd. has been finalised with an effective date of 4 February 2006.

Read more

Related news:

  1. Cooper Names Ron Shield as Interim VP, Asian Operations
  2. Cooper’s Majority Stake in Chengshan Approved
  3. Cooper Sees Q2 $22 Million Net Loss
  4. Cooper Buys Majority Share of Chinese Manufacturer
/by

Cooper’s Majority Stake in Chengshan Approved

Cooper Tire & Rubber Company has announced that all necessary government approvals have been received for its transaction to obtain 51 per cent ownership in China’s third-largest Chinese-owned tyre manufacturer.

Read more

Related news:

  1. Cooper Finalises Chengshan Purchase
  2. Cooper Names Ron Shield as Interim VP, Asian Operations
  3. Cooper Sees Q2 $22 Million Net Loss
  4. Cooper Buys Majority Share of Chinese Manufacturer
/by

Cooper Sees 3Q Results Fall

Driven by operating losses in all of its tyre units, Cooper Tire & Rubber Co finished the third quarter with a net loss of $1 million and sales that nudged just 1 per cent over last year’s results. Analysts described the company’s third quarter as “challenging” and warned that there are “more headwinds to come.”

For the quarter, Cooper posted sales of $558 million, up 1 per cent against the same period in 2004. The net loss, said Cooper, came as a result of lower unit sales, higher raw material costs, and “higher reported interest expense.”

Read more

Related news:

  1. Marco Molinari Becomes Executive Vice President, HNI Corporation
  2. Cooper Net Sales up 16 per cent
  3. Dongah Tire & Rubber Acquires Avon Automotive Vibration Business
  4. Alcoa Appoints Kramer to New Growth Initiatives Position
/by

Cooper Buys Majority Share of Chinese Manufacturer

(Akron/Tire Review) Cooper Tire & Rubber Co. today announced that it has reached an agreement to acquire 51 per cent ownership in Shandong Chengshan Tire Company Ltd. (Chengshan) of Shandong, China, and will partner with that company to create Cooper Chengshan (Shandong) Passenger Tire Co. Ltd. and Cooper Chengshan (Shandong) Truck Tire Company Ltd. Cooper said the total investment in the acquisition would be approximately $70 million.

Read more

Related news:

  1. Reports: Cooper Chengshan strike over Apollo acquisition
  2. Managers locked out in Apollo/Cooper protest
  3. Today is ‘D-Day’ for Cooper/Apollo deal
  4. Chengshan wanted to acquire Cooper Tire, court hears
/by

We see you are visiting us from China.

If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.