Sunday, Dec 11, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Automotive

Report says Cooper Tire could be sold

An Indian tire manufacture is in the process of acquiring Findlay-based Cooper Tire & Rubber Co., according to a report from an English-language newspaper in India.

The Economic Times reported today that Apollo Tyres Ltd., based in Gurgaon, India, is working to purchase a controlling stake in Cooper for a price in the $600 million to $800 million range.

A Cooper Tire spokesman told The Blade the company would not comment on the report.

The Economic Times report cited unnamed sources and did not include comment from either company.

Cooper Tire is the fourth-largest tire manufacturer in North America, and the 10th largest in the world. Cooper operates solely in the replacement tire industry.

The company reported a $254 million profit last year.

Shares of the company's stock were up more than 8 percent today in early trading.

Contact Tyrel Linkhorn at: tlinkhorn@theblade.com or 419-724-6134.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…