Cooper closes on deal to buy Serbia tire plant

1/19/2012

FINDLAY — Cooper Tire & Rubber Co. has closed on a deal to acquire the assets of a tire-making facility in Serbia.

Roy Armes, the company’s chairman, president, and chief executive officer, said Cooper decided to invest in Serbia not only because of its economic potential, but because of geographical advantages and Serbian government support.

The company had said in it would buy the Trajal Korporacija AD unit and rename it Cooper Tire Serbia. It said it would pay $17.3 million and invest another $66.7 million over three years to boost production at the plant.

Cooper’s only other European facility is in Melksham, England.