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Cooper Posts Positive Q3 Results

Citing lower raw material costs, continued manufacturing improvements and a better utilisation of capacity as the key driving factors, Cooper Tire & Rubber has reported a US$41 million net income for the quarter ended September 30, 2009, a $102 million improvement over the same period last year. The company’s net sales for the period were $803 million, a year-on-year increase of $9 million, while operating profit was $71 million for the quarter, a $118 million improvement from the corresponding months in 2008.

2nd November 2009/by Tyrepress Editors

Steven Zhou Named New Cooper Chengshan General Manager

Chuck Taylor’s time in the role of general manager at Cooper Chengshan (Shandong) Tire Co. Ltd. (CCT) is drawing to a close, and Cooper Tire has named his successor. On December 11, new general manager Steven Zhou will take over responsibility for planning, directing and coordinating the manufacturing operations at CCT. Zhou will report directly to Asian Operations Vice President and General Manager Allen Tsaur.

19th October 2009/by Tyrepress Editors

Cooper Tire Test Driver Wins Westfield Series

Cooper Tire’s development test driver, Chris Davison has won the 2009 Westfield Sportscar Series. Davison’s day job involves driving quickly and consistently so that Cooper can evaluate the development of new tyres, giving him a significant amount of practice that was clearly put to excellent use. The title was decided between Sutton-born Davison and title contender Simon Pryke, from Leicester.

16th October 2009/by Tyrepress Editors

Cooper Launches UK-Designed UHP 4×4/SUV Tyre

The first in Cooper’s 4×4 product portfolio to be developed outside the USA, the Zeon 4XS, says the American manufacturer, has been designed specifically to meet the demands of European 4×4 vehicles on European roads. The tyre will include fitments for the Porsche Cayenne, Volkswagen Touareg, BMW X5, Audi Q7, Volvo XC90 and Mercedes M-Class, and will be available to buy in the UK and mainland Europe from early November.

9th October 2009/by Tyrepress Editors

CITEXPO Shows Stability Despite the Crisis

International News

There are exhibitions where people are encouraged to “see and be seen.” And there are other exhibitions where employees from various market players meet and engage in what is important: doing business. One such exhibition is the China International Tire Expo, or CITExpo for short. At the start of September numerous representatives from the international tyre business met in Shanghai, and many of them attended to meet the stated aim of doing business with international (preferably Western) distributors. The particular quality – the meeting of Chinese manufacturers and exporters with overseas importers – has clearly evolved during the previous seven years and today is CITExpo’s greatest strength.

9th October 2009/by Tyrepress Editors

Cobra Releases Mini Cooper Suspension Kit

Cobra has released a full complement of suspension upgrade products for the new Mini Cooper and Cooper S intended to, as the company explains, remove the compromises of the standard suspension set-up and boost steering precision and driver feedback. The lowered springs, says Cobra, work in harmony with the factory damper units to lower the car by approximately 35mm at the front and 30mm at the rear. This improved centre of gravity reduces body roll and improves turn-in. Thanks to the spring’s unique properties, compliance is retained almost at factory levels. Appearances however are not, and Cobra notes the Mini takes on a far more aggressive stance and its wheels really fill the arches. The kit comes with a five-year warranty on fit and finish and prices start at £140 including VAT.

8th October 2009/by Tyrepress Editors

Cooper Tire Moving to 24/7 Operations at Texarkana Plant

Production capacity is to be expanded at Cooper Tire & Rubber’s Texarkana, Arkansas facility. The company reports that, in response to growing market demand for its products, operations at the Texarkana passenger car and light commercial vehicle tyre plant will shift to a 24/7 operation as of January 1, 2010. Approximately 200 additional employees will be needed to support this increased production volume, which will be phased in over several months in 2010.

6th October 2009/by Tyrepress Editors

Ricciardo Wins First Cooper Tire British F3 International Title

Cooper Tire & Rubber Company’s first year of sponsorship of the British Formula 3 International Series has been completed, with Australia’s Daniel Ricciardo becoming the first driver to win the prestigious championship. The Cooper Tires brand took over title sponsorship of the series in 2009 as part of a three-year deal, and also took over the role of sole tyre supplier to the series from associate brand Avon Tyres.

5th October 2009/by Tyrepress Editors

Cooper Tire Europe Appoints New Export Sales Manager

Cooper Tire & Rubber Company Europe has appointed Tom Edwards as its new Export Sales Manager for North Africa, the Mediterranean and Scandinavia. Edwards, 29, moves into Cooper Tire’s sales department from the marketing sector in which he was, until earlier this month, European and EMEA Marketing Manager.

2nd October 2009/by Tyrepress Editors

Cooper Names Two New North American Ad and PR Agencies

Cooper Tire has announced today that it has named two agencies to manage its North American advertising and public relations efforts following a comprehensive national agency search and review. MARC USA from Pittsburgh, Pennsylvania will handle Cooper Tire's advertising account, while The Zimmerman Agency from Tallahassee, Florida will direct the public relations and social media efforts for the company.

29th September 2009/by Tyrepress Editors

Expansion Groundbreaking Ceremony Held at Cooper’s Tupelo Plant

Cooper Tire & Rubber has embarked on a number of measures to boost its competitive edge in the North American market. As part of this the company intends to expand its Tupelo, Mississippi facility, and the groundbreaking ceremony for this project took place on September 22. According to Cooper, the US$7 million expansion work will increase the size of the 1.6 million square foot facility by an additional 32,000 square feet and include the installation of mixing equipment.

23rd September 2009/by Tyrepress Editors

Chinese Tyre Tariff Leaves Cooper Better Off

While opinions are divided about the perceived fairness of the US government’s 35 per cent Chinese tyre import levy, the repercussions on the global market are undeniable. After the initial fluctuations in tyre manufacturers share prices (down for those producing mainly in the Far East; up for the North American tyre makers), the latest effect has been for banks to raise their earnings estimates for Cooper Tire & Rubber. The decision comes on the back of an investor’s note which suggests Cooper Tire, which has opposed the tax, appears to benefit from the system overall.

Writing today (21 September) Deutsche Bank analysts said the US tariffs “have the potential to provide a significant net benefit to Cooper’s profitability over the intermediate term.” As a result the company raised its earnings estimates for the company to $1.61, $2.25 and $2.50 for 2009, 2010, and 2011, respectively, from $1.50, $1.40 and $1.48.

21st September 2009/by Tyrepress Editors

Shares Fluctuate Sharply Following Obama’s China Tyre Tariffs

International News, News

The Obama administration’s announcement that it is to impose tariffs of up to 35 per cent on Chinese-manufactured imports had a large impact on daily trading in the USA and Seoul, as Goodyear and Cooper shares bumped, and Hankook stock floundered.

14th September 2009/by Tyrepress Editors

Cooper to Supply 2 Lines to US Sears Auto Centers

In the US, Cooper Tire & Rubber Co has announced that it has finalised an agreement with Sears Holdings to supply Sears Auto Center facilities nationwide with two full lines of passenger tyres. The agreement will entail the manufacturing and sale of the Sears Guardsman Plus and the Cooper Response Touring passenger tyre lines.

3rd September 2009/by Tyrepress Editors

Cooper Sales up 40% in China

International News

During the first half of the year Chinese market sales of Cooper Tire & Rubber’s passenger car tyres increased 40 per cent, beating the company’s own 34 per cent target. Truck and bus tyre sales, which account for 65 per cent of Cooper’s China business, grew by double digits in the first half.

26th August 2009/by Tyrepress Editors