(Akron/Tire Review) Jerry Long has joined Cooper Tire & Rubber Co. as an unnamed position “to assist in the worldwide integration of Cooper’s global supply chain network,” according to the company. Long’s responsibilities will include global purchasing, warehousing and distribution, logistics and transportation and planning. He is an 18-year veteran with Dana Corp. with domestic and international experience in finance, accounting and manufacturing.
The National Tyres ‘Branch Manager of the Year 2005’ award has been won by Michael Gough of the Farnborough branch – along with a brand new Mini Cooper. Michael (53) came in top place for branch manager of the year, achieving record sales and receiving excellent feedback for customer service in the branch. Tony Neill, managing director presented Michael with his award.
(Akron/Tire Review) With its operations in China growing quickly, Cooper Tire & Rubber Co. brought in an outside expert to head that business. Margaret Sheng was named vice president of Cooper’s China operations and will be based in Shanghai, China.
Most recently, Sheng was regional executive director for Lear Corp. in central and southern China, and she has worked as director, general manager and operations manager for automotive manufacturers in China, Spain, the Philippines and US.
Cooper Tire & Rubber Europe suffered a minor fire over the weekend of 4 and 5 March. Five firefighters were taken to hospital as a precaution after the fire at the company’s Melksham production facility. Cooper’s Sarah McRoberts told Tyres & Accessories that the fire was successfully contained by the factory’s sprinkler system. Despite more than 35 firefighters attending there were no serious injuries and business is reported to have been unaffected. The cause of the fire remains under investigation.
Due to very weak North American tyre demand in the first quarter 2006 Deutsche Bank recommends its sell rating for Goodyear shares and put Cooper stock on “Hold.”
Cooper Tire & Rubber Co has named Steven M Chapman as a director of the Company, effective immediately. Mr Chapman is the Group Vice President, Emerging Markets & Businesses for Cummins, Inc., a global leader in diesel engines and related technologies. Mr Chapman will fill the vacancy that has existed on the Board since the departure of Dennis J Gormley. He will serve Gormley’s unexpired term until 6 May, 2008.
(Akron/Tire Review) Cooper Tire & Rubber Co. has introduced its new Zeon Sport A/S, a w-rated all-season UHP. Featuring “a bold tread design” and “predictable handling and control in both dry and wet road conditions,” said Cooper, the Zeon Sport A/S will be available is a range of 40- to 55-series sizes, covering 16- through 18-inch wheel diameters.
Cooper’s recent 2005 results may have shown full-year losses, but they also show that the company’s inventories would have been $125.6 million (41 per cent) higher “had they used FIFO instead of LIFO.” The results have implications on the way other company’s results are interpreted. “As a result, we would expect a substantial earnings impact from raw material cost inflation in the quarters ahead,” Deutsche Bank analysts said referring to Goodyear.
(Akron/Tire Review) Citing a number of factors, Cooper Tire & Rubber Co. posted a net loss of $9 million for 2005, down considerably from 2004’s net profit of $201 million. The loss came against full-year sales of $2.2 billion, which was up 4 per cent vs. 2004’s sales of $2.1 billion.
Cooper said the 2005 loss was due to a combination of rising raw material costs, lower unit sales, plant inefficiencies and the impact of the strike at its Texarkana, Arkansas, plant last year. Improved pricing and product mix helped boost overall sales, Cooper said.
Mini fans from all over the UK are expected to converge on Brands Hatch for the first themed event in the Dunlop Great and British Festivals calendar on Sunday 30 April.
(Akron/Tire Review) Cooper Tire & Rubber Co.’s Mickey Thompson brand division has hired Carl Robinson to the new position of wheel product manager. Robinson had been Weld Wheel Industries Inc.’s director of motorsports and president of Race Wheel Enterprises Inc. in Dania, Fla. Robinson has also helped develop various testing devices for wheel and tire assemblies and is a past member of the S.F.I. Wheel Certification Committee, Cooper said.
(Akron/Tire Review) The voluntary tyre recall launched by Cooper Tire & Rubber Co. on 13 February includes Cooper, associate and private brand tyres it produced as far back as February 2004, according to documents found on NHTSA’s web site. Cooper itself has issued no public information about the recall.
Of the approximately 288,000 tyres Cooper is recalling, some 183,000 were produced between February 2004 and 21 January 2005. These tyres – predominately designed for light truck/SUV applications – were being recalled due a slow leak that may be caused by a “contaminant in the upper sidewall,” according to an Associated Press report.
(Akron/Tire Review) Cooper Tire & Rubber Co. announced a quarterly dividend of 10.5 cents per share on common stock. It is the company’s 136th consecutive quarterly dividend.
(Akron/Tire Review) The Associated Press has reported that Cooper Tire & Rubber Co. is recalling some 288,000 passenger and light truck/SUV tyres due to concerns over cracking and slow leaks.
(Akron/Tire Review) Cooper Tire & Rubber Co. named Thomas Harrington as its new Northeastern region territory sales manager for its Oliver Commercial Products. He joins Cooper after serving in sales and marketing posts in the oil industry. Harrington is responsible for sales of commercial products to customers in Michigan, Indiana, Eastern Kentucky and Western Ohio.
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