Cooper Outlines Efficiency Improvement Plans
Cooper Tire & Rubber Co’s has announced plans to gain $170 million by the end of 2008 through cost cuts and profit improvements, according to an official filing. Cooper said it will reduce annual spending by $70 million and boost profit by $100 million with “better pricing and a change in our manufacturing strategy.” The plans also include operating three of the company’s US tyre plants around the clock while staffing a fourth with temporary workers during peak periods to help return the biggest share of its business to profitability.