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
Volkswagen Apollo

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 United builds performance and mid-tier for Asian and other markets. Its and Vredestein brands lead its line while Cooper is also known for its Avon, Starfire, Chengshan and Mastercraft Cooper is also an important to Sears stores.

With a sales of $6.6 billion, the company is rated seventh Bridgestone, Michelin, Goodyear, Pirelli and Sumitomo. Cooper was ranked No. 10 in 2012 and Apollo in at No. 16 according to the Global Rubber 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

Volkswagen Apollo

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.

Cooper Tire slated to into Indian hands, will be the sole major tire manufacturer. Brands as Firestone, General Tire, and BF Goodrich are still around, but are now by an assortment of Asian and European Cooper Tire Rubber employs more than people worldwide and has a 14 percent of the US tire replacement market.

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