Cooper Tires pausing production in North America, considering options in Europe
Market demand for tyres in some parts of the world is declining parallel to the spread of the coronavirus, and Cooper Tire & Rubber Company has responded by announcing a temporary shutdown of its tyre manufacturing facilities in the United States and Mexico. In a statement published on Saturday, the tyre maker said it is also “currently assessing plans” for its operations in Europe. Cooper Tires’ plants in China, which reopened several weeks ago and have continued to ramp up production since then, remain in operation.
The process of phasing down production at the plants in North America began on 21 March and is proceeding on a rolling schedule throughout this week. Cooper Tires expects to keep its facilities closed for two to three weeks, but will continue to closely monitor the situation and “adjust timelines as necessary.”
Cooper Tires says it is closely monitoring supply chain and product inventory levels, and believes it currently has sufficient supply of product. Distribution centres will continue to operate until further notice.
As the coronavirus has continued to spread across the globe, Cooper has put in place measures to protect employees and meet the needs of all stakeholders including travel restrictions, remote working, social distancing, additional cleaning and disinfecting of facilities, limited visitor access and other necessary steps. All remain in effect.