US-based bioscience company PanAridus recently announced granting of its ninth US Department of Agriculture (USDA) plant variety patent and the first tyre quality, bale-sized shipment of its guayule-derived biorubber. The announcement was made by company CEO Mike Fraley at the recent International Tyre Exhibition and Conference in Akron.
Some 388 Cooper Wild Country Radial XTX Sport tyres are being recalled in the US. A National Highway Traffic Safety Administration notice states that the recall affects certain size 265/65R18 tyres that were manufactured between 1 June 2014 and 28 June 2014 (weeks 2214-2514). The affected tyres may experience cracking or broken ply cords in the lower sidewall on the white sidewall side, which may lead to a sudden loss of pressure.
Having signed David Coulthard as its brand ambassador for ultra-high performance tyres a year ago, Cooper Tire has extended its relationship with the Scottish motorsport dynasty. Coulthard’s nephew, Murray Coulthard will complete the rest of his Scottish Tarmac Rally Championship (STRC) season on Avon Tyres. Murray drives a 1984 Vauxhall Nova and fit Avon ZZR rubber for the first time at the Solway Coast Rally, winning his class first time out. He will now switch to Avon Tyres for the remainder of the season.
Donington Park plays host to the final rounds of the Cooper Tires British Formula 3 Championship and Avon Tyres British GT Championship over the weekend of 13-14 September. Both championships will take to the Donington Park Grand Prix track, and tyre supplier and title sponsor Cooper Avon says the fast, sweeping curves and undulation changes making it a worthy venue for the end of season showdown.
Tom Lause, currently controller – global operations at Cooper Tire & Rubber, has succeeded Brad Hughes as the company’s treasurer. He also assumes responsibility for the tax function at Cooper as part of this position. These new duties will be carried out alongside Lause’s existing role until a successor for the position of controller – global operations is appointed.
Cooper Tire Europe has introduced a new winter range under its Starfire Tires associated brand. The Starfire W200 is aimed at the compact car market and manufactured at Cooper’s Kruševac facility in Serbia. Following testing in Alpine winter conditions, the tyre maker reports this newest member of the Starfire winter portfolio is a tyre that “delivers exceptional grip in snow, slush and wet conditions, thanks to state-of-the-art computer technology and increased sipe density.”
As we as being the official tyre of Arsenal Football Club, Cooper Tire Europe reports that it was delighted to welcome 10 youngsters from Arsenal’s ‘Premier League Kicks’ programme as guests to the Arsenal versus Besiktas Champions League game at Emirates Stadium, on Wednesday 27 August.
The Premier League Kicks team represented Arsenal in an Under 16s tournament against Millwall and Green Island FC, from Belfast, on 2 August in Bellingham, south east London, where the Arsenal boys put in some fine performances to claim victory.
Cooper Tire & Rubber Company has reported the results of its long-awaited independent valuation of Cooper Chengshan (Shandong) Tire Company Ltd (CCT). The valuation, which is also the option price, was determined to be RMB 2.722 billion roughly US$440 million at the current exchange rate.
A binding decision on the future ownership of the Chinese joint venture company set up by Cooper Tire & Rubber and Chengshan Group Company Ltd is still to be made, however the two parties are now in talks and have entered into an option agreement for working out the future of Cooper Chengshan (Shandong) Tire Company Ltd (CCT).
Yesterday Cooper Tire & Rubber Company announced it has extended, for a brief period, the option commencement deadline within the agreement that Cooper, Chengshan Group Company Ltd. and the CCT labor union reached in January of this year, which set forth a process to determine the future ownership of Cooper Chengshan (Shandong) Tire Company Ltd (CCT).
After a first quarter punctuated by lower year-on-year net sales and income, Cooper Tire & Rubber achieved growth – albeit slight – in the second quarter. During the three-month period ending 30 June, the tyre maker’s year-on-year net sales increased 0.5 per cent to US$888.7 million. Operating profit rose 10.7 per cent to $76.6 million, with operating margin reaching 8.6 per cent (7.6 per cent in Q2, 2013). Cooper says the increased in operating profit resulted primarily from favourable raw material costs of $67 million, higher unit volume of $13 million, favorable selling, general and administrative costs of $10 million, and manufacturing cost efficiencies of $7 million, which more than offset unfavorable pricing and mix of $85 million. The 2013 operating profit included $7 million in costs related to the then-pending merger with Apollo Tyres, which subsequently did not occur.
Onkar Kanwar has used the opportunity afforded by his company’s 41st Annual General Meeting to share Apollo Tyres’ view of why the planned acquisition of Cooper Tire & Rubber never materialised. The Apollo chairman also spoke on upcoming plans and the market opportunities and challenges the tyre maker has identified.
Cooper Tire & Rubber has appointed Mark Chung its vice-president, strategy & business development for the Americas. In his new role, Chung is responsible for leading the development and execution of Cooper’s North and South America business strategy, spearheading business intelligence, business development, and establishing processes to support the company’s growth initiatives in North America. He reports to Chris Ostrander, Cooper’s president, Americas Operations.
As if going to Hell and back wasn’t enough for David Coulthard, Cooper Tire & Rubber Company Europe reports that he’s now caught a fever. The tyre maker says the ex-Formula One driver and BBC F1 commentator returned from the third round of the 2014 FIA World Rallycross Championship, which he attended as an ambassador for Cooper Tire, with a case of ‘World Rallycross fever’ that has given him a new-found appreciation for the sport.
An all-new Mini entered the market this year, and it’s longer and wider than the previous model – 107 mm longer and 44 mm wider in hatchback form, to be precise. But not everything has changed; Hankook remains original equipment supplier for the Mini, and is providing four tyre lines for the new-generation car. All original equipment tyres for the Mini are produced at Hankook’s factory in Hungary.
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