CKT sale to have “no impact” on Kenda product supply
Kenda USA officials say that despite Kenda Rubber’s decision to sell its ownership stake in Cooper Kenda Tire, the move is a positive for the company. At the start of March, Cooper Tire & Rubber bought out Kenda Rubber’s 50 per cent share in their joint venture passenger tyre production facility in China. According to Kenda, the plant only produced Cooper branded and Cooper associate brand passenger, 4×4 and light commercial tyres, and thus the sale “has no impact to the current supply of Kenda products.”
“With Kenda’s new automotive tyre plant in Taiwan scheduled to open later this year, we believe the transaction will allow Kenda to increase investments in our future growth,” said Jimmy Yang, Kenda USA president. “The relationship between Kenda and Cooper has been mutually beneficial and we appreciate the hard work from all parties involved to make Cooper Kenda Tire what it is today.”
“We’re excited over the possibilities this will offer Kenda to continue to develop into a stronger brand,” added Bob Phoenix, Kenda USA’s vice president of sales.