Cooper refuses comment on Trayal investment reports
Cooper has refused to comment on multiple Serbian news reports quoting Serbian finance secretary Miodrag Djidic as saying that Cooper Tire is interested in acquiring Trayal’s automobile tyre plant. When questioned on the subject, a Cooper Tire Europe spokesperson told Tyres & Accessories that’ the company’s “corporate policy is not to comment on rumour or speculation.”
One of the more detailed accounts of the news, produced by Belgrade Stock Exchange registered M&V Investments, cited Djidic as the source of earlier comments that Cooper plans to invest 50 million euros over the next two years and increase output from one million to 7 million over the next two years. Djidic also reportedly explained that all of the newly expanded production output will be intended for export, which will “significantly contribute to the inflow of money into the local budget through salary taxes, while 700 people will get a safe job and regular income.”
The finance minister is also said to have expressed a belief that the arrival of Cooper would signify “the beginning of the wave of investments in Krusevac”. Trayal’s current owner, Bulgarian company Bricel EAD, is said to have been negotiating with Cooper for some time. According to investment advice dated 17 June, one representative of the US-based tyre firm had been visiting Krusevac-based Trayal for about 10 days at the time of going to press. What is clear is that there has been no official confirmation of the reports from any of the companies named.