Cooper Tire & Rubber (CTB, on behalf of the New York Stock Exchange) recently announced that its stake in its subsidiary Coobo Big Tire (Kunshan) Co., Ltd. will increase from 50% to 100%. The increase in shareholding investment amounted to US$116.5 million, and it is expected to be completed through a wholly-owned subsidiary on March 15, 2011. The subsidiary's finances have been incorporated into Cooper Tire & Rubber's global financial statements. After the completion of the self-delivery, the subsidiary will be renamed to Cooper Tire (Kunshan) Co., Ltd. with the approval of the government. The subsidiary currently produces a wide range of passenger car and light truck tires sold in North America and Europe and will also be sold to the Chinese domestic market in the future. Cao Kechang, Global Vice President and General Manager of Asia Pacific at Cooper Tire & Rubber Co., Ltd., said that the management team and employees of Cubo Jianda Tire (Kunshan) Co., Ltd. have been working hard and have established the company as a world-class factory producing high-quality and competitive products. We look forward to the company continuing to play an important role in Cooper Tire & Rubber's global supply chain." Mr. Miller, Global Vice President and President of the International Department of Cooper Tire & Rubber Company, also stated that “our partners in the joint venture company are invaluable in the contribution to the establishment and growth of Cooper Construction Big Tire (Kunshan) Co., Ltd. They also benefited from common efforts.Our ownership in the new company enabled Cooper Tire & Rubber Co. to continue to grow and strengthen its competitiveness.We are excited about the new company's role in the future of Cooper Tire & Rubber. Kneading Block,Screw Elements,Segmented Screw KERKE Extrusion Equipment Co.Ltd. , http://www.kerkeextrusion.com
Cooper Tire & Rubber Corporation Announces Increased Investment in Asian Plants