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Cooper Tires

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Cooper Tires
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Wikipedia: Cooper Tire & Rubber Company

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History

The following section is an excerpt from Wikipedia's Cooper Tire & Rubber Company page on 11 September 2018, text available via the Creative Commons Attribution-ShareAlike 3.0 Unported License.

Cooper Tire & Rubber Company is an American company that specializes in the design, manufacture, marketing and sales of replacement automobile and truck tires, and subsidiaries that specialize in medium truck, motorcycle and racing tires. With headquarters in Findlay, Ohio, Cooper Tire has 60 manufacturing, sales, distribution, technical and design facilities within its worldwide family of subsidiary companies. In July 1960, the company became a publicly held corporation and was listed on the New York Stock Exchange.

Cooper owns the UK-based Avon Tyres brand, which produces tires for motorcycles, road cars and for motor racing.

The company slogan is "The tire with two names ... the company and the man who built it."

The earliest corporate lineage for Cooper Tire was the M and M Manufacturing Company, founded in 1914 in Akron, Ohio by John F. Schaefer and Claude E. Hart, who were related by marriage. Their new company produced tire patches, tire cement and tire repair kits. They purchased The Giant Tire & Rubber Company of Akron, a tire rebuilding business, in 1920, and in 1922 moved the business to Findlay, Ohio, at a site at the intersection of Lima and Western avenues that is still occupied by Cooper Tire, adjacent to The Cooper Corporation facility. The Cooper name originates from 1919 when Cincinnati auto-parts dealer I. J. Cooper formed The Cooper Corporation in Findlay, to manufacture new tires. The Cooper Corporation, the M and M Company, and The Falls Rubber company merged in 1930 to form the Master Tire and Rubber Company. The company name was changed to Cooper Tire & Rubber Company in 1946.

The Cooper oval trademark with the Cooper Knight headgear was first registered and used in 1941. In those early years of the brand's identification, the logo also included a banner proclaiming the tires' "armored-cord" construction. The company's red, white, and blue logo would become one of the most easily recognized emblems in the tire industry.

During World War II the company, known as Master Tire and Rubber, manufactured pontoons, landing boats, waterproof bags and camouflage items, inflatable barges, life jackets and tank decoys, as well as tires, to supply the Allied forces. The U.S. government recognized the company's contribution to the war effort in a 1945 ceremony bestowing the Army-Navy ‘E’ Award (for excellence). Soon after the war (1946) the company name was changed to Cooper Tire & Rubber Company.

From 1946 to 1982, Cooper Tire was headed by a member of the Brewer family: first W.B. Brewer, then his sons, Wayne and Edward. Another son, Robert, was a vice president. W.B. Brewer took Cooper Tire public, and on July 11, 1960, the company was listed on the New York Stock Exchange under the ticker symbol "CTB," the "B" standing for "Brewer." Throughout their tenure, the Brewers set a tone for hands-on leadership, management mingling with workers, and taking care of them. They built the trust and loyalty of the workers.

Under the Brewers' leadership, Cooper Tire grew significantly. By 1983, the company joined the ranks of Fortune 500 companies as one of the largest industrial companies in the United States.

In 1997, Cooper purchased Avon Tyres Ltd., based in Melksham, England.

The company's largest growth acquisition occurred in 1999 when it bought The Standard Products Company, which increased Cooper's total workforce by 10,000 employees. Dearborn, Mich.-based Standard Products produced sealing, plastic trim and vibration-control systems for the automotive original-equipment industry worldwide. The purchase included Standard Products subsidiaries Oliver Rubber Company and Holm Industries Inc. Oliver Rubber manufactured tread rubber and equipment for the truck-retread industry. Holm produced seals for home and commercial refrigerators.

In December, 2003, Cooper agreed to a joint venture with Kenda Rubber Industrial Company, to construct a tire-manufacturing plant near Shanghai.

In January, 2005, Cooper agreed to purchase 11% of South Korea-based Kumho Tires Company, and also announced the formation of a new commercial division encompassing both Oliver Rubber Company and commercial tires.

In October, 2005, Cooper announced an agreement to obtain 51% ownership in China’s third largest tire manufacturer, Cooper Chengshan (Shandong) Passenger Tire Company Ltd., and Cooper Chengshan (Shandong) Truck Tire Company Ltd., to produce truck and passenger car tires for mainland Chinese and export markets. Two of the businesses of the joint venture are Cooper Chengshan Passenger Tire, and Cooper Chengshan Tire. In 2007 Cooper set up a manufacturing venture in eastern China with Kenda Rubber Industrial Company, a company based in Taiwan. Cooper generates 25% of its global sales in China. In 2007 Cooper sold its Oliver Rubber Company subsidiary, which produced tread rubber and retreading equipment, to Michelin for $69 million.

In December 2011, Cooper bought a unit of the Serbian tire manufacturing company Trayal Corporation from Kruševac, from the Bulgarian company Brikel EAD for a sum of $13 million and invested as much as $50 million. The newly established company which has disintegrated from the Trayal Corporation, was named "Cooper Tire & Rubber Company Serbia" d.o.o. As of 2016, it has around 740 employees and annual revenue of $76 million.

On June 12, 2013, a deal was finalized in which Apollo Tyres of India would buy Cooper for $2.5 billion. This move would have made Goodyear Tire & Rubber Co. the only major U.S. tire manufacturer. Cooper is the second largest U.S.-based tire company, after Goodyear. On December 30, 2013 Apollo pulled out of the deal since Cooper has not disclosed vital information about its lack of control over its Chinese business. The Chinese plant went on an indefinite strike against the proposed acquisition forcing Apollo to try to lower the $35-per-share bid in the original deal.


Documents

DateDocument Name & DetailsDocuments
12 July 1971NHTSA Recall 71T009000
1969-1970 Cooper, 1969-1970 Hercules

National Highway Traffic Safety Administration
Recall Page - 1 page
2 April 2015United States Securities and Exchange Commission vs. Amit Kanodia and Iftikar Ahmed
Complaint
United States District Court Southern District of New York

PDF
- 265KB - 15 pages


Article Index

DateArticleAuthor/Source
17 May 2011Cooper Tire & Rubber Tire Company, Receipt of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Claude H. Harris)
17 October 2012Alternative Management Resources, Inc., Doepker Group, Inc., D.B.A. Time Staffing, Inc., Personnel Management Group, Inc., Including Workers Whose Unemployment Insurance (UI) Wages Are Reported Through Employer Solutions Staffing Group, LLC, Select Staffing, and Strom Engineering Corporation, Working On-Site At Cooper Tire & Rubber Company, Findlay, Ohio; Amended Certification Regarding Eligibility To Apply for Worker Adjustment AssistanceFederal Register: DoL (Del Min Amy Chen)
11 February 2013Cooper Tire & Rubber Company, Receipt of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Claude H. Harris)
2 August 2013Cooper Tire & Rubber Company, Grant of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Claude H. Harris)
22 May 2014Cooper Tire & Rubber Company, Receipt of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Jeffrey M. Giuseppe)
19 August 2014Cooper Tire & Rubber Company, Grant of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Jeffrey M. Giuseppe)
2 April 2015SEC Charges Friends With Insider Trading on Acquisition of Cooper TireSecurities and Exchange Commission
22 October 2015Cooper Tire & Rubber Company, Receipt of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Jeffrey Giuseppe)
4 March 2016Cooper Tire & Rubber Company, Grant of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Jeffrey M. Giuseppe)
25 March 2016Cooper Tire & Rubber Company, Receipt of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Jeffrey M. Giuseppe)
5 July 2016Cooper Tire & Rubber Company, Grant of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Jeffrey M. Giuseppe)
13 July 2016Cooper Tire Styles ESPY Nominees and Well-Known Athletes at GBK’s Annual Celebrity Gift Lounge Honoring the ESPY Awards’ Nominees and PresentersGBK Productions
3 August 2016Cooper Tire & Rubber Company, Receipt of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Jeffrey M. Giuseppe)
3 August 2016Cooper Tire & Rubber Company, Receipt of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Jeffrey M. Giuseppe)
11 April 2017Cooper Tire & Rubber Company, Grant of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Jeffrey M. Giuseppe)
5 June 2017Cooper Tire & Rubber Company, Receipt of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Jeffrey M. Giuseppe)
15 November 2017Cooper Tire & Rubber Company, Grant of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Jeffrey M. Giuseppe)
6 December 2018Cooper Tire & Rubber Company, Receipt of Petition for Decision of Inconsequential NoncomplianceFederal Register: NHTSA (Claudia W. Covell)


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