Chengshan to Purchase CCT from Cooper
Cooper Tire & Rubber Co.’s Chinese joint venture partner, the Chengshan Group Co., plans to exercise its right to purchase Cooper’s majority share in its Cooper Chengshan (Shandong) Tire Co. (CCT) plant. The tiremaker is currently reviewing the notice and documentation provided by Chengshan to confirm that all requirements under its option agreement have been
Cooper Tire Establishes Deadline in Cooper-Chengshan Ownership
Earlier this week, Cooper Tire & Rubber Co. extended the option commencement deadline within the agreement to determine the future ownership of Cooper Chengshan Tire (Shandong) Co. Today, Cooper announced that the new option agreement extends the option commencement deadline to Aug. 24. Aug. 11 was the stated deadline the parties established back in January
Cooper Extends Deadline
Cooper Tire & Rubber Co. has extended, for an unstated “brief” period, the option commencement deadline within the agreement that Cooper, Chengshan Group Co. and the CCT labor union reached in January of this year, which set forth a process to determine the future ownership of Cooper Chengshan Tire Co. “The process to arrive at
