Cooper raises ownership of China JV

摘要

Cooper Tire & Rubber Co. has received final approval from China to increase its ownership in its Cooper Chengshan (Shandong) Tire Co. Ltd. joint venture in China to 65 %. Chengshan's share will drop to 35% following the change. Cooper has budgeted US$ 17.9 million for the stake and anticipates making the transaction during the first quarter. Cooper Chengshan operates a factory in Chengshan with 9 million units of annual capacity for passenger, light truck and medium truck tyres.