Cooper has received final approval from China’s government to increase its ownership share of the Cooper Chengshan Tire Co. (CCT) to 65 percent. Cooper previously had a 51 percent stake in the Chinese plant.
The $18-million transaction is expected to close by the beginning of April.
“CCT is a critical part of Cooper’s strategy and has performed exceptionally well,” says Allen Tsaur, general manager of the company’s Asian-Pacific division. “We are excited about the opportunity to increase our ownership in these operations.”
For more information, visit www.coopertire.com.
