PanAridus Announces 9th Guayule Patent and First Bulk Shipment
According to PanAridus CEO Mike Fraley, commercialized guayule rubber for tires is moving at warp speed. Recently, the company announced its ninth USDA Plant Variety Patent and its first tire quality, bale-sized shipment of the biorubber. The natural rubber polymer is extracted from guayule shrubs, native to the Southwestern U.S. and northern Mexico. Fraley noted
Cooper Board Elects New Treasurer
Cooper Tire & Rubber Co.’s board of directors elected Tom Lause, currently controller for its global operations, as the company’s new treasurer.
NHTSA Recalls More Than 1,000 Cooper Tires
The NHTSA has recalled 1,492 Cooper Tire & Rubber Co. Wild Country Radial XTX Sport 265/65R18 tires. The affected tires, manufactured June 1 to June 28, may experience cracking and broken ply cords in the lower sidewall on the intended outboard side above the rim. If the tire experiences cracking or broken ply cords, this
Cooper Tire Offers Fall Rewards
Cooper Tire has announced the details of its Fall Reward Event. According to the company, consumers can get up to $70 Visa prepaid card with the purchase of a new set of four qualifying Cooper tires at participating retail stores throughout the U.S., District of Columbia and Puerto Rico. The event runs through October 31.
CCT Valuation Set at $440M, Chengshan Now on the Clock
Now we know the valuation. Now we know the prices. And now we wait some more for resolution. Cooper Tire & Rubber Co. late yesterday announced that its Cooper Chengshan (Shandong) Tire Co. (CCT) plant in Shandong province, China, was valued at approximately $440 million. The valuation came from an independent firm agreed on by
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
Update: No New Deadline Set in Cooper-Chengshan Ownership Deal
Given the relationship of the parties over the last 12 months, the announcement yesterday that Cooper Tire & Rubber Co. and Chengshan Group Co. need a little more time to sort out ownership of their joint venture plant could not be termed a surprise. Aug. 11 was the stated deadline the parties established back in
What Armes Really Said About Tariff Threat
During Cooper Tire & Rubber Co.’s earning call with investment analysts on Aug. 7, Cooper chairman and CEO Roy Armes briefly addressed the USW petition for added tariffs on China-made consumer tires imported into the U.S. Cooper is a major importer of those specific tires, and was dinged during the three-year added tariff imposed by
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
Cooper Presenting at Auto Conference
Cooper Tire & Rubber Co. is scheduled to present at the J.P. Morgan 2014 Auto Conference on Aug. 13 at 10 a.m. Brad Hughes, president of the tiremaker’s international operations and chief financial officer and Chris Ostrander, president of the Americas operations are scheduled to speak. A live webcast of the presentation will be available
Cooper Down YoY
Cooper Tire & Rubber Co. sales, net income and profit are down for the first half of 2014, but its balance sheet is up. The tiremaker reported that its net income is $84 million verses $92 million last year and its sales have decreased from $1.75 billion to $1.69 billion. Additionally, Cooper’s operating profit is
Magazine Awards Cooper Product
Cooper Tire & Rubber Co.’s Discoverer A/T3 light truck tire received Overland Journal’s “Editor’s Choice and Value Award” in its September 2014 issue. “We are gratified that Overland Journal recognized the innovative features, performance and value of the A/T3 to give it the Editor’s Choice and Value Award,” said Scott Jamieson, Cooper’s director of product