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Cooper Tire Europe launches new dealer portal

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Cooper Tire Europe has launched a dealer portal for its customers. The new website combines and enhances the tyre manufacturer’s existing digital tools, presenting dealers with a single point of contact for various customer-facing functions. From the portal dealers will be able to access brand assets, news and newsletters, and Cooper’s E-University for contactless product training on demand – all with a single login. Cooper said the portal marks “an important step” in its efforts to become “the most user-friendly customer and consumer facing tyre manufacturer to work with.”

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Related news:

  1. Cooper Tire Europe launches first Arabic website for Middle East market
  2. Cooper announces plan to end light vehicle tyre production at Melksham
  3. Cooper Tire reports 1Q2020 net loss of US$12 million, Europe and International segment bears the brunt
  4. Cooper Tire Europe restarting manufacturing in Melksham
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Goodyear’s Cooper acquisition notes set to bear interest of 5%

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Following the news that it is raising money to fund the cash part of its takeover of Cooper Tire, The Goodyear Tire & Rubber Company announced that it has priced its private offering to eligible purchasers of $850 million aggregate principal amount of senior notes due 2029 and $600 million aggregate principal amount of senior notes due 2031.

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. Goodyear and Cooper shares up 30% after takeover news
  3. Fitch rating affirmation partially affirms Goodyear Cooper acquisition strategic logic
  4. Cooper shareholders approve Goodyear merger
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Goodyear launches private offering to raise funds for Cooper Tire acquisition

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The Goodyear Tire & Rubber Company commenced a private offering of US$1.45 billion aggregate principal amount of 8- and 10-year senior notes on 13 May 2021.

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. Cooper shareholders approve Goodyear merger
  3. Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research
  4. Bumpy roads and leveraged buy-outs – reflections on the Goodyear/Cooper Tire integration
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Cooper will pay 197th consecutive dividend…probably

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With the confirmation of its 197th consecutive quarterly dividend (announced on 6 May 2021), Cooper Tire & Rubber reiterated its position as one of the most consistent dividend-payers out there. However, this time the normally prosaic dividend payment announcement statement was spiced up by a single condition.

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. Goodyear and Cooper shares up 30% after takeover news
  3. Cooper shareholders approve Goodyear merger
  4. Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research
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Cooper shareholders approve Goodyear merger

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Cooper shareholders approve proposed merger with Goodyear Cooper Tire & Rubber Company’s stockholders have voted overwhelmingly to approve the planned merger with The Goodyear Tire & Rubber Company. The vote was held at a special meeting of Cooper stockholders today. Cooper reports that approximately 99 per cent of votes cast were in favour of the transaction. Read our coverage of Goodyear’s acquisition of Cooper here, or in our special 12-page e-paper supplement.

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  3. Fitch rating affirmation partially affirms Goodyear Cooper acquisition strategic logic
  4. Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research
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Goodyear-Cooper takeover gains Chinese antitrust approval

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Goodyear’s US$2.8 billion takeover of Cooper has passed a significant milestone, following the deal’s approval by antitrust authorities in China. According to official filings, the merger between Goodyear Tire and Rubber Company and Cooper Tire & Rubber Company was approved by the State Administration for Market Regulation (SAMR) on 23 April 2021.

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Related news:

  1. Shares Fluctuate Sharply Following Obama’s China Tyre Tariffs
  2. Decennial shift in global PCLT tyre volume market share
  3. US Motorists Driving Less
  4. Goodyear Assurance Gains Top Award From China’s Auto Magazine
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World RX & Euro RX on Cooper tyres through to 2023

Cooper Tire Europe has announced a continuation of its exclusive tyre supply to the FIA World Rallycross and FIA European Rallycross championships for the 2021, 2022 and 2023 seasons. This year’s World Rallycross season, which commences with the World RX of Norway on 12 June, will be the 8th contested on Cooper tyres.

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Related news:

  1. Cooper Tire Europe racing on with World RX Esports Invitational Series
  2. Cooper signs as sole tyre supplier for World RX
  3. Cooper Tire: We want to make British Rallycross the best in the world
  4. Cooper official tyre supplier to World Rallycross
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Isle of Man TT winner Plater becomes Avon motorcycle tyre ambassador

Avon Tyres and two-time Isle of Man TT race winner and former British Supersport champion Steve Plater has become brand ambassador for Avon’s motorcycle tyre range. Avon has been working closely with Plater in recent months to enhance the 3D Ultra Xtreme and 3D Ultra Xtreme Slick products. Designed and manufactured in the UK, the 3D Ultra Xtreme and 3D Ultra Xtreme Slick, along with the wet-weather 3D Ultra Xtreme Rain Racer, are high-performance tyres developed with demanding track use in mind. Cooper has previously introduced brand ambassadors for particular product ranges, like Formula 1’s David Coulthard, who represented Cooper UHP tyres.

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Related news:

  1. Guy Martin, Peter Boast take podium on Avon tyres at Endurance Legends
  2. Cooper names Clifford global Avon motorcycle manager
  3. Avon presents Roadrider MKII at global dealer conference
  4. Cooper to Unveil Run-Flat Technology at Essen
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Goodyear gives Ryan Patterson responsibility for Cooper integration

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Goodyear

Ryan Patterson has been appointed as senior vice president, Business Integration of The Goodyear Tire & Rubber Company. The role, which Patterson took on in March 2021, means leadership of the integration Cooper Tire, which Goodyear is purchasing.

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  3. Goodyear approached Cooper Tire regarding multi-billion-dollar acquisition
  4. Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research
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Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research

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With the addition of the Cooper Tire business, Goodyear will return to the global number three ranking in passenger car and light truck (PCLT) tyre volumes in 2021. After previously holding the clear number three ranking behind the world’s largest tyre manufacturers, Bridgestone and Michelin, Goodyear was joint third with Continental in both 2017 and 2018. In 2019, Goodyear fell behind Continental to fourth position in 2019 and 2020. Working on a pro forma basis combining original equipment and replacement market tyres, Astutus Research data reveals some interesting facts about the nascent conjoined organisation, with reference to their largest tyre business segment in terms of volume.

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Related news:

  1. Is Continental about to break into PCLT tyre global big 3?
  2. Goodyear set to buy Cooper Tire for US$2.5 billion
  3. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  4. Goodyear and Cooper shares up 30% after takeover news
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Bumpy roads and leveraged buy-outs – reflections on the Goodyear/Cooper Tire integration

Goodyear’s $2.5 billion-dollar acquisition of Cooper is the biggest tyre industry news story of 2021 so far (click here for detailed analysis of the deal itself). But takeovers – especially those this big – are seldom easy. A large portion of the motivation behind the acquisition is to bolster Goodyear’s position in the high-value 4×4 and SUV tyre segments. So, with this in mind, what kind of terrain is the deal likely to encounter as the two companies make their way towards integration?

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. Cooper shares up 40% following acquisition announcement
  3. Cooper takes suitor Apollo to court
  4. Goodyear and Cooper shares up 30% after takeover news
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Cooper Tire: More than 430,000 tyres recalled in USA

The US government’s National Highway Traffic Safety Administration (NHTSA) has announced another recall of tyres produced by Cooper Tire & Rubber. This recall potentially relates to more than 430,000 4×4 and SUV tyres in the sizes 275/65R18 and 275/55R20.

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Related news:

  1. North American recall for Continental, Cooper tyre lines
  2. Cooper recalls 1,983 Cooper and Mastercraft tyres
  3. Cooper recalls certain Roadmaster RM852 tyres in the US
  4. Continental recalls 12,000 car tyres in the US
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North American recall for Continental, Cooper tyre lines

Continental Tire the Americas is recalling more than 90,000 Continental, General Tire and Barum tyres in North America that have been over-cured and are thus at risk of developing breakages in the sidewall area. A separate recall of approximately 12,000 Cooper and Mastercraft tyres in North America is taking place due to a possible low tread gauge in the tyres’ shoulder slot area which could cause tread separation and sidewall failure.

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Related news:

  1. Giti Tire, Continental recalling tyres in USA
  2. Cooper recalls 1,983 Cooper and Mastercraft tyres
  3. European markets not affected by US tyre recall – Continental
  4. GM recalls vehicles due to overcured Continental tyres
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Fitch rating affirmation partially affirms Goodyear Cooper acquisition strategic logic

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PublicDomainPictures; Pixabay

The day after Goodyear announced that it is buying Cooper Tire for north of $2.5 billion, Fitch Ratings affirmed its Long-Term Issuer Default Ratings of The Goodyear Tire & Rubber Company (GT) and its Goodyear Europe B.V. (GEBV). Fitch also affirmed its ratings on a number of specific funding lines. Both moves can be interpreted as partially affirming the Goodyear Cooper acquisition’s strategic logic – something that was described as compelling by the senior executives of both companies.

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  3. Cooper shareholders approve Goodyear merger
  4. Goodyear and Cooper shares up 30% after takeover news
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Goodyear and Cooper shares up 30% after takeover news

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Google Finance

Goodyear’s takeover of Cooper Tire has been positively received by the stock markets, with Cooper’s share price jumping 31.8 per cent from 43.81 before the news was announced to $57.75 two days later. Goodyear‘s share price also swelled, up 28.9 per cent from $13.52 beforehand to $17.43 48 hours after the takeover news was released.

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  3. Fitch rating affirmation partially affirms Goodyear Cooper acquisition strategic logic
  4. Dunlop Aircraft Tyres confirms sale talks
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