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Cooper Tire posts record Q1 profit

Although year-on-year sales were down 12.5 per cent in the first quarter of 2013, Cooper Tire & Rubber nevertheless managed to more than double operating profit and net income during the January to March period. Net sales amounted to US$862 million, a decrease of $123 million compared with the same period a year ago. Operating profit was a first quarter record of $97 million, up 103 per cent from the first quarter of 2012 and 11.2 per cent of net sales. The company reported net income attributable to Cooper Tire & Rubber Company of $0.87 per share, or $56 million, in the first quarter. This is 160 per cent higher than the $22 million, or $0.34 per share, for the same period last year.

13th May 2013/12,345 Comments/by Tyrepress Editors

Al Dobowi makes Edwards European marketing manager

The Al Dobowi Group has appointed Tom Edwards to the position of European marketing manager. Previously export sales manager at Cooper Tire, managing customer relationships across Scandinavia, Benelux and the Mediterranean, Edwards has ten years of sales and marketing experience.

9th May 2013/12,345 Comments/by Tyrepress Editors

BKT USA names new president

Carl Casalbore has been appointed president of BKT Tires USA, effective 6 May. He replaces Rami Bitran. He is based at the company’s US headquarters in Akron, Ohio and joins BKT from Zafco/ZTI Tires, where he served as vice-president of sales. Casalbore has worked in the tyre industry for more than 30 years and also has sales executive posts with Armstrong Tire, Pirelli Tire North America, Cooper Tire & Rubber and Continental Tire the Americas.

6th May 2013/12,345 Comments/by Tyrepress Editors

Mini to be made in India

Following growing global demand for its Mini range, owners BMW have announced that the iconic marque will be produced outside Europe for the first time later this year to cater for growth markets in other continents. This is in line with BMW's "production follows the market" strategy.

18th April 2013/12,345 Comments/by Tyrepress Editors

Cooper breaks ground on Kunshan R&D centre

On 12 April, Cooper Kunshan Tire broke ground on its new Asia-Pacific Technology Center in China. The ground breaking ceremony was attended by Chuck Yurkovich, Cooper’s vice-president of Global Research and Development, Allen Tsaur (Cao Kechang), vice-president and general manager, Cooper Asia Operations, along with regional and government representatives.

17th April 2013/12,345 Comments/by Tyrepress Editors

Tyre 350,000,000 produced at Cooper’s Texarkana plant

It’s taken almost 49 years, but on 14 March Cooper Tire & Rubber’s Texarkana factory in the US state of Arkansas produced its 350 millionth tyre. The tyre maker says 7 million tyres are produced in Texarkana every year these days, giving the plant an annual output that’s a far cry from the early years; the first tyre was produced at the factory on 16 April 1964, and it took 24 years before the millionth tyre was manufactured.

18th March 2013/12,345 Comments/by Tyrepress Editors

Cooper Zeon LTZ and Discoverer S/T MAXX boost KRT 4×4 range

Cooper Tire’s 4×4 range has been extended with the introduction of the Zeon LTZ and two new Discoverer models, the S/T MAXX and A/T3. All three tyres are off-road ready, with the Zeon LTZ performing as a hybrid between sport truck and all-terrain applications, with improved road handling and ride characteristics. One of the brand's distributors in this segment, Kings Road Tyres has worked with Cooper for more than 10 years, and purchasing and marketing manager, Tim Bader predicts that the new options could make a big impact, creating “a real buzz among stockists and end users”.

13th March 2013/12,345 Comments/by Tyrepress Editors

Guayule consortium holds progress update meeting

Cooper Tire & Rubber and its guayule rubber research consortium partners have reviewed initial progress on their US$6.9 million Biomass Research and Development Initiative (BRDI) grant from the USDA and the US Department of Energy. The meeting highlighted significant progress being made in several areas, including guayule plant genome sequencing needed for future breeding tools, irrigation studies to maximise rubber content in the plant, and completing laboratory testing to develop a guayule tyre-grade polymer specification for future commercialisation.

13th March 2013/12,345 Comments/by Tyrepress Editors

Cooper enters fifth British F3 season

Cooper Tires has launched its fifth successive year as exclusive tyre supplier to the Cooper Tires British Formula 3 Series. The company has been involved for more than 30 of the championship’s 60 years, having supplied Avon brand tyres before moving to Cooper in 2009. The tyre supplier exemplifies British F3’s calibre with the high number of drivers who have graduated to Formula One – more than any other championship. Jackie Stewart, Emerson Fittipaldi, Nelson Piquet, Ayrton Senna and Mika Hakkinen have all been both British F3 and Formula One World Champions. It is also the oldest Formula 3 category in the world.

8th March 2013/12,345 Comments/by Tyrepress Editors

Avon begins eighth year with British GT Championship

Avon will begin its eighth successive year as sole tyre supplier to the Avon Tyres British GT Championship at Oulton Park on Easter weekend. Launched on the evening of 7 March in London, the 2013 season features grids boosted by a number of European entries.

8th March 2013/12,345 Comments/by Tyrepress Editors

Cooper halts Findlay production for the week

According to local news sources, Cooper Tire & Rubber has paused production at its Findlay factory in the US state of Ohio. The Toledo Blade reports that production has been idled since 2 March due to high inventories and the implementation of a software system. Tyre production is scheduled to recommence on 9 March.

7th March 2013/12,345 Comments/by Tyrepress Editors

Cooper Tire and Industrias Negromex patent silica masterbatch process

Cooper Tire and Industrias Negromex S.A. de C.V. (INSA), a subsidiary of Grupo KUO, report that the US patent office has granted a patent to the two organizations for their silica masterbatch process. According to the two companies, the process to produce silane, hydrophobated silica, silica masterbatch and rubber products results in a broader processing window offering “manufacturing efficiencies” for the end user.

1st March 2013/12,345 Comments/by Tyrepress Editors

Cooper posts record results

Cooper Tire & Rubber Company has reported its fourth quarter and full year 2012 results, including record net sales of US$1.1 billion in the final quarter, and increase of two per cent on the same period a year earlier. Operating profit also reached record levels in the fourth quarter, amounting to $124 million – $65 million higher than fourth quarter 2011 and 11.7 per cent of net sales. The company reported net income attributable to Cooper Tire & Rubber Company of $1.15 per share, or $73 million in the fourth quarter.

25th February 2013/12,345 Comments/by Tyrepress Editors

Cooper announces quarterly dividend

Cooper Tire & Rubber has announced a quarterly dividend of 10.5 cents per share on common stock, payable 29 March 2013 to stockholders of record at the close of business 6 March 2013. This will mark the 164th consecutive quarterly dividend the company has paid. Cooper Tire & Rubber will publish its fourth quarter 2012 results on Monday 25 February.

22nd February 2013/12,345 Comments/by Tyrepress Editors

Cooper to establish US technology centre

Cooper Tire & Rubber intends to open a new technology centre at its US headquarters site by the end of this year. According to Tire Review, the tyre maker plans to hire approximately 40 new employees, including engineers, scientists, researchers and technicians, to perform research at the Findlay centre. The trade journal adds that local reports indicate a US$2.8 million grant from the state of Ohio will go towards establishing the centre; Cooper said it aims to invest $40 million in the project over the next five years.

20th February 2013/12,345 Comments/by Tyrepress Editors