Cooper Tire & Rubber Co. and Apollo Tyres are still pushing forward to close its acquisition deal by the end of 2013, despite recent setbacks.
A recent ruling by an arbitrator that said Cooper can’t sell its unionized plants in Findlay, Ohio or Texarkana, Ark. appeared to be a roadblock. However, Anne Roman, vice president of communication and public affairs for Cooper Tire told the Northeast Mississippi Daily Journal, “Cooper Tire and Apollo are continuing discussions with the unions with an aim of reaching an amicable resolution quickly to minimize any impact on the original closing.”
Meanwhile, during a Rotary Club meeting Cooper’s CEO Roy Armes said he doesn’t see Apollo Tyres closing its plants in Findlay, Texarkana or Tupelo, Miss., according to the Findlay Courier.
"Nobody has a crystal ball that says five, 10, 20 years something wouldn’t happen, but we just don’t envision that happening," he said.
Cooper’s shareholders are set to vote on the acquisition Sept. 30.
