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You are here: Home1 / Roy Armes

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Cooper Tire considering its options in China

Company News

Although Cooper Tire & Rubber will retain offtake rights for tyres produced by the Cooper Chengshan (Shandong) Tire Company Ltd (CCT) plant in China after its ownership is fully transferred to Chengshan Group Company Ltd., the tyre maker is nevertheless looking for an alternate supply of tyres in China. Several options are under consideration; company chairman, chief executive officer and president Roy Armes outlined these at Cooper’s third quarter earnings call on 7 November.

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Related news:

  1. Cooper extends timeframe for Cooper Chengshan talks
  2. Cooper Tire: 2013 figures show impact of ‘unique challenges’
  3. Chengshan given first dibs on Cooper Chengshan tyre plant
  4. Analysts: Cooper 3Q results surprise, but shares fall
10th November 2014/by Tyrepress Editors

Cooper Tire board elects new treasurer

Career Tracks

Tom Lause, currently controller – global operations at Cooper Tire & Rubber, has succeeded Brad Hughes as the company’s treasurer. He also assumes responsibility for the tax function at Cooper as part of this position. These new duties will be carried out alongside Lause’s existing role until a successor for the position of controller – global operations is appointed.

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Related news:

  1. Cooper Tire names Ginger Jones its new CFO
  2. Chinese JV exit gives Cooper Tire flexibility to plan for a changing tyre market
  3. Scholarship to honour outgoing Cooper Tire boss
  4. Cooper Tire Awards Annual Roy V. Armes, Centennial scholarships
4th September 2014/by Tyrepress Editors

Chengshan given first dibs on Cooper Chengshan tyre plant

Company News, International News

A binding decision on the future ownership of the Chinese joint venture company set up by Cooper Tire & Rubber and Chengshan Group Company Ltd is still to be made, however the two parties are now in talks and have entered into an option agreement for working out the future of Cooper Chengshan (Shandong) Tire Company Ltd (CCT).

Read more

Related news:

  1. Cooper extends timeframe for Cooper Chengshan talks
  2. Analysts: Cooper 3Q results surprise, but shares fall
  3. Chengshan forms new JV with investment group
  4. Cooper Tire considering its options in China
15th August 2014/by Tyrepress Editors

Cooper extends timeframe for Cooper Chengshan talks

Company News, International News

Yesterday Cooper Tire & Rubber Company announced it has extended, for a brief period, the option commencement deadline within the agreement that Cooper, Chengshan Group Company Ltd. and the CCT labor union reached in January of this year, which set forth a process to determine the future ownership of Cooper Chengshan (Shandong) Tire Company Ltd (CCT).

Read more

Related news:

  1. Cooper Tire considering its options in China
  2. Chengshan given first dibs on Cooper Chengshan tyre plant
  3. Analysts: Cooper 3Q results surprise, but shares fall
  4. Chinese JV exit gives Cooper Tire flexibility to plan for a changing tyre market
12th August 2014/by Tyrepress Editors

Cooper returns to growth in Q2

Company News

After a first quarter punctuated by lower year-on-year net sales and income, Cooper Tire & Rubber achieved growth – albeit slight – in the second quarter. During the three-month period ending 30 June, the tyre maker’s year-on-year net sales increased 0.5 per cent to US$888.7 million. Operating profit rose 10.7 per cent to $76.6 million, with operating margin reaching 8.6 per cent (7.6 per cent in Q2, 2013). Cooper says the increased in operating profit resulted primarily from favourable raw material costs of $67 million, higher unit volume of $13 million, favorable selling, general and administrative costs of $10 million, and manufacturing cost efficiencies of $7 million, which more than offset unfavorable pricing and mix of $85 million. The 2013 operating profit included $7 million in costs related to the then-pending merger with Apollo Tyres, which subsequently did not occur.

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Related news:

  1. Cooper Tire: 2013 figures show impact of ‘unique challenges’
  2. Q3 Cooper Tire result exceeds estimates
  3. Joint venture sale lifts Cooper Tire 2014 income
  4. Q1 performance ‘well above target’, says Cooper Tire
11th August 2014/by Tyrepress Editors

Increased OE activities and higher global sales part of Cooper’s growth strategy

Company News

At its Investor Day, held in New York on 15 May, Cooper Tire & Rubber outlined the measures it will implement to support the company’s goal of sustained annual operating profit in the eight to ten per cent range and, over the long term, operating profit above ten per cent plus annual net sales in the vicinity of US$5 billion to $6 billion.

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Related news:

  1. Cooper extends timeframe for Cooper Chengshan talks
  2. Cooper Tire considering its options in China
  3. Q1 performance ‘well above target’, says Cooper Tire
  4. Operating profit up in Q2 as Cooper Tire benefits from raw material prices
16th May 2014/by Tyrepress Editors

Cooper Tire: 2013 figures show impact of ‘unique challenges’

Company News

Less than two weeks after releasing overdue third quarter 2013 results that reflected the disruptions experienced at Cooper Chengshan in China – a situation that cost the company US$56 million in negative impact, including $47 million in lower volumes and $9 million in manufacturing inefficiencies – Cooper Tire & Rubber has published its fourth quarter and full year 2013 figures. Sales, operating profit and net profit are all lower than in 2012.

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Related news:

  1. Cooper Q1 revenue, operating profit down year-on-year
  2. Cooper Increases Sales, But Posts Loss for Half
  3. ‘Project Charlie’ – a failed attempt to resolve Cooper Chengshan standoff
  4. Cooper appeals court decision
14th March 2014/by Tyrepress Editors

Cooper wins first Ford OE in US

News

Cooper has secured its first US original equipment deal with Ford, which has selected the Cooper Zeon RS3-A as the standard fitment on its 2013 Ford Focus SE and Titanium models. Tire Review reports that the all-season UHP tyre will be supplied in W-rated size 215/50R17.

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Related news:

  1. Goodyear Assurance Fuel Max Tyres Selected for 2010 Toyota Prius
  2. Cooper profits down, even after sales increase
  3. Conti partners MLS in US schools Solar Project
  4. Cadillac selects Bridgestone Potenza for new flagship model
12th February 2013/12,345 Comments/by Tyrepress Editors

Cooper achieves $2.04bn 1H sales

Career Tracks

Cooper Tire & Rubber Co. reported net income of $86.6 million for the first half of 2012, against total sales of $2.04 billion for the period, Tire Review reports. The first half sales were up compared to $1.82 billion for the same period in 2011, and net income surpassed last year’s $32.9 million.

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Related news:

  1. Cooper issues 159th consecutive quarterly dividend
  2. Goodyear declares quarterly dividend
  3. Cooper Tire to Pay Out 155th Consecutive Quarterly Dividend
  4. Cooper quarter operating profit down, despite record sales
9th August 2012/by Tyrepress Editors

US Cooper retailers targeted by union protest

News

Direct negotiations between Cooper Tire and the United Steelworkers union regarding Cooper’s Findlay plant broke down late last year, yet the union has found other means of communicating its position. Tire Review reports that last weekend the USW held a “day of action” that involved protest at numerous tyre retailers that sell Cooper products. The union distributed information about “Cooper Tire's unfair and illegal lockout” of workers at the plant.

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Related news:

  1. Cooper profits down, even after sales increase
  2. Cooper's Texarkana contract to expire
  3. Cooper, USW give Texarkana deal the thumbs up
  4. Cooper workers to participate in ‘justice’ road trip
17th January 2012/by Tyrepress Editors

Cooper appoints new Board member

News

Cooper Tire & Rubber has appointed Cynthia A. Niekamp to the company’s Board of Directors. Niekamp is senior vice-president of PPG Industries’ automotive OEM coatings business, a position she has held since 2010. She joined PPG in 2009 as vice-president of the automotive OEM coatings business.

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Related news:

  1. Cooper Appoints New CFO
  2. Cooper’s Montalbine Named ASQ 'Quality Leader of the Year'
  3. Cooper Names Anderson Director of Financial Planning & Analysis
  4. Cooper Tire: 2013 figures show impact of ‘unique challenges’
14th December 2011/by Tyrepress Editors

Cooper profits down, even after sales increase

News

A faultering US tyre market contributed to poor second quarter results for Cooper Tire & Rubber Co. The tyre-maker saw second quarter net income of just $12 million, down nearly 38 per cent year-on-year, against sales of $922 million, up 15 per cent from the second quarter of 2010. For the entire first half, Cooper posted sales of $1.83 billion, up from $1.56 billion for the same period last year. Net income, however, came to $32.9 million, down considerably YoY from $67.3 million.

Read more

Related news:

  1. Cooper Findlay talks to resume
  2. Cooper Increases US Car, Light Truck Prices
  3. Cooper, union negotiations ‘getting intense’
  4. Cooper, USW give Texarkana deal the thumbs up
4th August 2011/by Tyrepress Editors

Cooper Tire appoints new chief of legal department

News

As of April 4, Stephen Zamansky will succeed Jim Kline in the position of vice president, general counsel and secretary at Cooper Tire & Rubber. Kline will retire on May 31, 2011 after leading Cooper’s legal department for eight years. In his new role, in which he reports directly to company chairman, CEO and president Roy Armes, Zamansky will oversee Cooper's legal affairs, environmental affairs, and corporate governance and compliance functions.

Read more

Related news:

  1. Cooper appoints new Board member
  2. Avon Motorsport Manager Roger Everson Announces Retirement
  3. Cooper Tire appoints new UK sales director
  4. Cooper profits down, even after sales increase
16th March 2011/by Tyrepress Editors

Cooper Tire Plant Marks Safety Achievement

News

Cooper Tire’s Tupelo factory in the US state of Mississippi has achieved a million man-hours without recording a single lost time injury. The tyre maker states this milestone “demonstrates the company's commitment to the highest standards of safety performance and its desire to create a safer working environment.”

Read more

Related news:

  1. Cooper profits down, even after sales increase
  2. US Cooper retailers targeted by union protest
  3. Cooper workers to participate in ‘justice’ road trip
  4. Environmental Award Acknowledges Green Efforts at BATO’s Aiken County Plant
14th September 2010/by Tyrepress Editors

Cooper Tire the Latest Tyre Company to Pledge to Haiti

News

Cooper Tire has joined the ranks of generous tyre companies donating money to the Haiti relief fund. The company announced today that it is pledging up to $25,000 in donations to support relief and recovery efforts in Haiti after the 12 January, 2010 earthquake, which caused catastrophic damage and tremendous loss of life. The Company will match up to $25,000 in employee donations through a special Haiti disaster-relief matching gift programme.

Read more

Related news:

  1. Cooper Texarkana Plant Wins Environmental Award
  2. TGI Supports Haiti Earthquake Relief Effort
  3. Cooper Tire appoints new chief of legal department
  4. Bridgestone to develop guayule-based rubber
26th January 2010/by Tyrepress Editors
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