Cooper expands ownership of Chinese tire factory

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.