Jinyu Tire Group hosted the groundbreaking ceremony of Jinyu (Vietnam) Tire Company Ltd’s 2 million tyre a year factory in Phuoc Dong Industrial Park, Tay Ninh Province, Vietnam on 18 June 2020. Local industrial park leaders as well as customer, supplier and construction representatives attended on the behalf of Jinyu Tire Group partners in light of the Covid pandemic
Cooper Tire & Rubber Company will open a new 1 million square foot regional distribution centre in Whiteland, Indiana. The facility, minutes from the company’s current Franklin, Ind. warehouse, will replace the Franklin site with all employees expected to transition to the new location. The Whiteland facility is currently under construction and is expected to open in early 2021. Cooper adds that the new site will provide increased capacity for product storage and a modern design for enhanced efficiencies.
Cooper Tire & Rubber Company reports that six recent high school graduates have been selected to receive scholarships to pursue higher education via its Roy V Armes and Centennial scholarship programme.
In the USA, Cooper Tire’s Roadmaster brand has bolstered its presence in the delivery and emergency vehicle segment with the introduction of two new tyres. The Roadmaster RM257 drive and Roadmaster RM170+ steer, both 19.5-inch tyres, will soon be available for order through Roadmaster dealers.
Cooper has begun the process of restarting its tyre manufacturing plant in El Salto, Mexico. The manufacturer said it is restarting production on a limited basis today. It states that it has “put in place a comprehensive set of procedures that include required employee health disclosures, increased cleaning and disinfecting of facilities and equipment, social distancing and physical barriers, visitor restrictions, and other measures.” These measures are aligned with the company’s “first priority of employee health and safety,” it added.
Cooper Tire & Rubber Company has announced that Cooper Tire Europe plans to begin the process of reopening its manufacturing plant in Melksham, England, in the first half of June, and expects to be producing tyres there by 15 June 2020. The facility, which primarily manufactures motorcycle and racing tyres, has been temporarily closed since late March due to coronavirus.
Rodin Cars has enlisted Avon Tyres to supply its radial slick tyres for its new FZED single-seater, which is on sale for £500,000.
Despite intense pressures facing the wider tyre industry, on 8 May 2020 Cooper Tire & Rubber Company maintained a long unbroken streak of quarterly dividends, when it declared a dividend of 10.5 cents per share on common stock, payable 26 June 2020 to stockholders of record at the close of business 1 June 2020. This is the 193rd consecutive quarterly dividend paid by Cooper Tire & Rubber Company.
Cooper Tire & Rubber Company has reported a first quarter 2020 net loss of $12 million, compared with net income of $7 million in same period last year. Unit volume decreased 15.8 per cent compared to the first quarter of 2019. Net sales decreased 14.1 per cent to $532 million. Operating loss was $6 million, or 1.2 per cent of net sales, compared to operating profit of $26 million, or 4.3 per cent of net sales, in 2019.
Cooper Tire Europe has launched a new all-terrain, all-season SUV tyre – the Cooper Discoverer A/T3 Sport 2. The tyre balances on-road stability and off-road capability. It carries the Three Peak Mountain Snow Flake and M+S ratings for harsh winter conditions and slippery surfaces.
Avon Tyres has expanded its operation in Germany by partnering with Reifen Gundlach and Reifen Center Wolf. Under the new agreements, Avon will supply its latest car and van tyres to both companies.
Cooper Tire & Rubber Company is set to open its manufacturing plants in the United States and Serbia next week (the week commencing Monday 27 April). The facilities have been temporarily closed for approximately five weeks due to coronavirus and its impacts. The company’s plant in Melksham, UK remains temporarily closed. And Cooper’s Mexico plant is to close temporarily.
Operations at Cooper Tire & Rubber Company’s production facility in El Salto, Mexico resumed yesterday. Measures to protect the health and safety of employees, including social distancing, additional cleaning and disinfecting of facilities, as well as restricted visitor access, were put in place as employees returned to work. Cooper announced the plant’s temporary closure due to coronavirus impacts on 21 March.
As it is doing in the USA with its Road to Indy engagement, Cooper Tire will continue to race in the virtual world in Europe. The coming weeks will see the launch of the World RX Esports Invitational Series, with Cooper Tire Europe as tyre ‘supplier’.
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