Cooper Gives Further Restructuring Details
Cooper Tire has given more details about how it will achieve its previously announced $100 million inventory reduction by the end of 2007. Analysts report that a recent update from the management pointed to improvement on all fronts. According to Deutsche Bank, the company has already achieved $40 million of its inventory reduction goal, and has identified approximately $34 million of its $70 million annual cost reduction target. Cooper is aiming for $170 million of total improvement from cost reductions and other initiatives.