Cooper to acquire Serbian tire plant

LSRUNQI

Cooper to acquire Serbian tire plant

- P/ R+ k2 L# ?Monday, December 12, 2011

Findlay, OH - Cooper Tire & Rubber has signed an agreement to acquire the assets of an existing tire plant in Krusevac, Serbia. Located approximately 200 kilometers south of the Serbian capital of Belgrade, Krusevac provides an excellent location to supply tires to the European and Russian markets. The new wholly-owned subsidiary, which will be known as Cooper Tire Serbia, will complement Cooper’s well-established European operations and product offerings, including the high performance tires manufactured at the company’s Melksham, England, facility. Including an initial investment of approximately EUR 13 million and with the Serbian government supporting the project in several ways, the company plans to invest over EUR 50 million in the operations over the next three years. The support from the Serbian government could total a possible EUR 10 million if certain goals are achieved. In addressing the timetable for the new operations, Julian Baldwin, vice president and managing director of Cooper European Operations, commented, “We look forward to working with the experienced local work force in preparing to produce tires in Krusevac. The plant will initially employ 400, with plans to grow to a production capacity of three million tires with 600 to 700 employees within three years. There is room for even greater capacity with further investment in the business.” The transaction is expected to close during the first quarter of 2012 and is subject to regulatory approvals, confirmatory due diligence and other conditions. -

迷失LOST

固铂收购塞尔维亚轮胎厂，全球化步伐加快！