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October (2022)
Goodyear: Closing Cooper Tire Melksham UK Plant Link...
Coooper Tire (acquired by Goodyear a year ago) has announced the proposed closure of its Melksham, UK site (subject to consultation). The Melksham site has struggled to be competitive for some time with the additional burden of the challenging current environment. The closure is expected to be complete by the end of 2023.
Goodyear: Consolidating Motorcycle Tire Production In Europe Link...
Goodyear have outlined a proposal to consolidate European premium motorcycle tire production at its Montlucon, France production site following the closure of the Cooper Tire UK facility. LT production at Montlucon will be moved to other European production sites. These changes are planned to take effect by end of 2023.
August (2022)
Yokohama Rubber: Speeds up Compound Development with AI Technology Link...
Yokohama Rubber has begun applying a proprietary rubber compound design system that utilizes AI-based compound generation technology. The new system was developed with the cooperation of Hamagomu Aicom Inc., a Yokohama Rubber subsidiary specializing in information system development. The new system’s use of AI to propose a compound that achieves targeted rubber physical property values enables the acquisition of new knowledge about compounds that humans could not have conceived independently. Yokohama Rubber expects this new system will enable it further speed up product development and develop higher-performance products.
October (2021)
Yokohama Rubber: Testing Sensor-Attached Tires with Zenrin Link...
Yohohama Rubber has begun testing of a tire sensor attached to the tire's inner surface. The testing is in collaboration with Zenrin on a nationwide basis. The tests are being conducted using a tire sensor being developed by Yokohama Rubber and an in-vehicle device developed by Alps Alpine Co., Ltd., that has been attached to the test vehicles with Zenrin’s cooperation. The tests will confirm the durability of the sensors and the ability of a newly developed system to remotely monitor tire pressure using the in-vehicle device. Yokohama Rubber aims to realise a new value-added tire-related business that provides tire pressure information and GPS location data along with Zenrin's abundant map information.
June (2021)
Goodyear: Completes Acquisition of Cooper Link...
Goodyear has completed its acquisition of Cooper Tire & Rubber Company. Goodyear plans to integrate the companies complementary business models in order to benefit its shareholders, customers, consumers and employees
RCCL Industry Analysis:
Analysis Snippet: Goodyear Acquisition of Cooper
Goodyear and Cooper are actively adjusting production capacities and product mix. These factors are incorporated into the total nameplate compound capacity requirements (shown below) for the two companies just before the acquisition and for Goodyear post acquisition. Market adjusted capacities, splits by product type and other detailed analysis by region, manufacturer and year are available by request.  Contact Us For Further Information »
February (2021)
Goodyear: To Acquire Cooper Tire & Rubber Company Link...
Goodyear Tire & Rubber Company has entered into a definitive transaction agreement to acquire Cooper Tire & Rubber Company. The transaction is subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals and the approval of Cooper shareholders. The transaction is expected to close in the second half of 2021.
October (2020)
Sumitomo Rubber Industries: Begins Proof-of-Concept Testing for New TPM Solutions Service Link...
Sumitomo Rubber Industries, Ltd. have recently begun proof-of-concept testing for a new type of tire pressure management solutions service that allows for remote monitoring of tire pressure and temperature as part of a joint project undertaken with the cooperation of Shin-Idemitsu Co., Ltd. and its group subsidiary: IDEX Auto Japan Co., Ltd., as well as our partners at TripodWorks Co., Ltd. and one of our own tire sales subsidiaries: DUNLOP TYRE KYUSYU Co., Ltd. In order to respond to the rise of CASE (Connected/Autonomous/Shared/Electric), MaaS (Mobility as a Service) and other major innovations that are already transforming the automotive industry, the Sumitomo Rubber Group is actively engaged in the development of tire pressure management solutions services and other innovations as part of its“SMART TYRE CONCEPT,” a forward-thinking concept for the development of tires and peripheral services to better serve the needs of the Mobility Society of the Future.
July (2020)
Cooper Tire & Rubber Co: Increasing Capacity at Serbian Factory Link...
Cooper Tire is progressing construction on an expansion at its Kruševac, Serbian factory. The $55 million expansion project will increase the capacity by about one third, allowing production of larger diameter tires in line with market demand in Europe and globally. The project is due to complete later this year.
February (2020)
Cooper Tire & Rubber Co: Investing in Serbian and Mexican Plants Link...
Cooper's 2019 FY report and outlook for 2020 includes significant capital expenditures, ranging from $260-280 million in 2020 for its Serbian and Mexican plants. These strategic investments are part of Cooper's plans to enhance global competitiveness and follow on from shifting production from Melksham, UK to Serbia as well as acquiring full ownership of the Mexican facility.
November (2019)
Sailun Co: JV Plant in Vietnam Produces First TBR Tire Link...
Cooper Tire & Rubber Company and Sailun Vietnam Co., Ltd. have produced the first tire at their joint venture facility in Vietnam. The plant is expected to be operational and producing on a commercial basis in early 2020.
December (2018)
Cooper Tire & Rubber Co: Announce Joint Venture with Sailun for New TBR Plant in Vietnam Link...
Cooper Tire & Rubber Company has a agreed to form a joint venture with Sailun Vietnam Co to build a TBR plant with an anual capacity of 2 million tires. The plant will be built new Ho Chi Minh City, Vietnam at the site of Sailun's existing facility. Cooper will own 35 percent of the new venture.
December (2016)
Cooper Tire & Rubber Co: Purchase Majority Interest in Qingdao Ge Rui Da Rubber Co Ltd Link...
Cooper Tire & Rubber Company has completed its purchase of a 65 percent interest in China-based Qingdao Ge Rui Da Rubber Co., Ltd. (GRT). GRT produces truck and bus radial (TBR) tires for global markets and will manufacture TBR tires to meet Cooper’s customer needs in North America, as well as in Asia and other markets. In the future, passenger car radial tires may also be manufactured at the one-million-square-foot GRT facility, which has room for further expansion.
December (2014)
Cooper Tire & Rubber Co: Closes Sale of Cooper Chengshan Tire Company Ltd Link...
FINDLAY, Ohio, Dec. 1, 2014 – Cooper Tire & Rubber Company (NYSE: CTB) today announced that it has closed the sale of its 65 percent ownership in Cooper Chengshan (Shandong) Tire Company Ltd (CCT) to Chengshan Group Company Ltd. for approximately $262 million net of taxes and including dividends in accordance with the previously announced option agreement. Within the coming days, the company will file pro forma financial statements in conjunction with a Form 8-K related to the transaction with the U.S. Securities and Exchange Commission (SEC).
Cooper Tire & Rubber Co: Closure of Sale of Cooper Chengshan (Shandong) Tire Company Ltd Link...
FINDLAY, Ohio, Dec. 1, 2014 – Cooper Tire & Rubber Company (NYSE: CTB) today announced that it has closed the sale of its 65 percent ownership in Cooper Chengshan (Shandong) Tire Company Ltd (CCT) to Chengshan Group Company Ltd. for approximately $262 million net of taxes and including dividends in accordance with the previously announced option agreement. Within the coming days, the company will file pro forma financial statements in conjunction with a Form 8-K related to the transaction with the U.S. Securities and Exchange Commission (SEC).
March (2014)
Cooper Tire & Rubber Co: Modernisation of Tupelo Plant Link...
Cooper is investing $140 million to modernise the Tupelo Plant, with associated state and local funding.
January (2014)
Marangoni: Sale of PC and LT plant Anagni, Italy Link...
ROVERETO, Italy—Marangoni S.p.A. has hired PricewaterhouseCoopers Corporate Finance to help the company negotiate the sale of its car and light truck tire plant in Anagni, Italy. Production in Anagni was suspended in September, 2013, idling 400 workers. Following that, the Marangoni Group reached an agreement with trade unions and institutions to ensure the continuation of the redundancy fund payments to the 400 employees of the plant until Dec. 31, 2014. Marangoni said it has discussed "a series of organizational and financial initiatives" and "developed to promote and support the acquisition of the plant by new investors." The Marangoni Group, with help from PricewaterhouseCoopers, will initiate contact with potential investors in the near future. Commercial and technological activities have been transferred to Marangoni's plant in Rovereto. Marangoni said the Anagni plant has a production capacity of more than 3.5 million units per year.
December (2013)
Cooper Tire & Rubber Co: Terminates Merger Agreement with Apollo Tyres Link...
FINDLAY, Ohio, USA – December 30, 2013 – Cooper Tire & Rubber Company (NYSE: CTB) today announced it has terminated the merger agreement with Apollo Tyres (NSE: ApolloTYRE).
June (2013)
Apollo Tires: To Acquire Cooper Tire & Rubber Company Link...
Apollo Tyres Ltd (NSE: ApolloTYR.NS) and Cooper Tire & Rubber Company (NYSE: CTB) today announced the execution of a definitive merger agreement under which a wholly-owned subsidiary of Apollo will acquire Cooper in an all-cash transaction valued at approximately Rs 14,500 crores (US$2.5bn**). Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, Cooper stockholders will receive $35.00 per share in cash. The transaction represents a 40% premium to Cooper’s 30-day volume-weighted average price.
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