The plant, which Cooper bought in 1990, will be shuttered over the next year, Cooper said, saving the company some $60 million to $75 million per year.
Production at the plant will be shifted to Cooper’s remaining U.S. plants in Findlay, Ohio, Texarkana, Ark., and Tupelo, Miss.
“This was a difficult decision and we regret the impact it will have on our employees in Albany and the surrounding community,” said Cooper chairman and CEO Roy Armes. “The detailed study we performed was fair, objective, and conclusive that we needed to consolidate our capacity and close one of our U.S facilities. The government and community agencies were actively engaged and involved and offered a high level of support, but the final outcome was clear.
“Cooper customers in the North American market must have competitive products of the highest quality from Cooper in order to grow and prosper in this intense market,” he said. “This capacity rationalization will help us meet that demand. Unfortunately, this was a very necessary action to position Cooper to compete in a global market environment.” (Tire Review/Akron)