Cooper Tire Increases Investment
Cooper Tire and Rubber has announced increased capital equipment investments in three of their four US tyre manufacturing facilities. This increase provides additional production capacity of more than 2.4 million units. The 32.1 million US dollar investment will include the purchase of new tyre building machinery and presses and add 116 additional manufacturing employees.
The Albany, Georgia plant will receive an investment of 19.4 million US dollars and will include a new tread line, the addition of a sixteen press expansion and four new VMI tire building machines. The Texarkana, Arkansas facility is scheduled for a 5.2 million US dollar increase to boost production capacity. The investment will include eight new presses, additional tyre building equipment and cell modification changes resulting in additional capacity of about 560,000 tyres annually. The Tupelo, Mississippi facility will benefit from a 7.5 million US dollar investment resulting in six presses being added, combining for an additional 511,000 units annually.