Cooper Tire To Invest and Manufacture Tires in Mexico

FINDLAY, Ohio, June 18 /PRNewswire-FirstCall/ -- Cooper Tire & Rubber Company (NYSE: CTB) today announced an agreement to invest in a tire manufacturing facility in Guadalajara, Mexico. The facility will be jointly owned by Cooper, IBSA (a Mexican holding corporation) and Cooperativa TRADOC S.R.L. (employee owners of the Occidente facility). Cooper ownership in this facility is 38 percent at an investment of $31 million. (Logo: http://www.newscom.com/cgi-bin/prnh/20010404/COOPERLOGO ) Cooper Chairman, President and CEO Roy Armes said, "This is an important step in the implementation of our strategic plan and our access to cost- competitive sourcing. Securing access to a steady source of supply to supplement the production of our U.S. facilities and meeting the customer's demands in the North American market is critical to our... [read full story]