Apollo Tyres to Acquire Cooper Tires Auto Trends Magazine — Volkswagen Apollo

22 Апр 2015 | Author: | Комментарии к записи Apollo Tyres to Acquire Cooper Tires Auto Trends Magazine — Volkswagen Apollo отключены
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Apollo Tyres to Acquire Tires

Cooper Tire Company, based in Findlay, says that it is being by India’s Apollo Tyres. The two announced a “definitive merger on Wednesday, with the combined representing the seventh-largest tire in the world. Cooper was founded in while Apollo is a relative created in 1976.

Indian Manufacturer

Apollo, unknown in the States, builds performance and tires for Asian and other Its eponymous and Vredestein brands its tire line while Tire is also known for its Roadmaster, Starfire, Chengshan and brand. Cooper is also an supplier to Sears stores.

With a combined sales of billion, the merged company is seventh behind Bridgestone, Goodyear, Mainland, Pirelli and Cooper Tire was ranked No. 10 in and Apollo came in at No. 16 according to the Rubber Markets website.

Apollo Tyres

Apollo is led by S. Kanwar. Past President of the of Indian Chambers of Commerce and (FICCI). He currently serves as for the Indian Rubber Manufacturers Association. Kanwar, a graduate of the of California, has expanded Apollo Asia to Europe and Africa, other companies along the Apollo operates four plants each in India and Africa and also has a plant in the

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Said Kanwar, “The company will be uniquely to address large, established such as the United States and the Union, as well as the fast-growing of India, China, Africa, and America where there is potential for further growth. Our portfolio of brands and products be amongst the most comprehensive in the

Cooper Tires

The merger is to be completed later this pending regulatory and shareholder The boards of the two companies unanimously to the merger which will pay shareholders $35 per share or 40 percent the weighted average for the past 30 The all-cash transaction will approximately $3.5 billion.

With Cooper Tire to transfer into Indian Goodyear will be the sole American-owned tire manufacturer. such as Firestone, General Uniroyal and BF Goodrich are still but are now owned by an assortment of Asian and corporations. Cooper Tire Company employs more 13,000 people worldwide and has a 14 share of the US tire replacement

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