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    FISITA World Mobility Conference 2025: Key themes and concerns for the automotive industry
    One thing is abundantly clear after the FISITA World Mobility Conference (WMC) last week. Megatrends impact everything. No longer can chassis development, braking, safety validation and so forth stand alone without impact from the broader drive towards electrification, the AI revolution or SDVs, to name a few.  The event’s sessions gave the impression that electrification is already baked into the industry, particularly in Europe where the debate on (regulation-pushed) direction is ...
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    Beyond horsepower: Compute becomes the new competitive edge for OEMs
    Automotive compute power is becoming a defining metric of vehicle capability — not just for autonomy, but across cockpit systems, connectivity and life-cycle software deployment. As vehicles transition toward centralized electrical/electronic (E/E) architectures and software-defined platforms, silicon performance is now a core determinant of what a vehicle can do — and how long it will remain competitive in the field. Two metrics have emerged as industry standards for measuring this compu...
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    Cooper Tire to acquire majority stake in Chinese JV
    Cooper Tire & Rubber has entered into an agreement to acquire 65% stake in China-based Qingdao Ge Rui Da Rubber (GRT), according to a company press release. As per the agreement, the US-based tire-maker will pay CNY600 million (USD91.6 million) to GRT, which will be renamed Cooper Qingdao Tire (CQT). The transaction, subject to regulatory approvals from the Chinese government, is scheduled to complete during the first half of 2016. GRT, established in 2014, operates a tire manufacturing ...
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    Freudenberg-NOK to expand US facility
    Freudenberg-NOK Sealing Technologies, a joint-venture between Freudenberg and Japan-based NOK, plans to expand its manufacturing facility in Morristown, Indiana (United States), according to a press release yesterday (11 June). The company is planning a 20,000-square foot expansion of the existing 65,000-square foot facility. The company plans to add 75 production, supervisory and administrative employees to the already existing 266 employees over the next five years. Freudenberg-NOK anticip...
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    Freudenberg to invest USD40.7 million in office building in Germany
    The Freudenberg Group has announced plans to invest EUR36 million (USD40.7 million) in a modern office and administration building at the company's Weinheim site in Germany, said a company press release on 5 May. The facility, to be spread over around 14,000 square metres, will include a total of 800 ultra-modern workplaces for employees, a conference centre with the latest media technology and an auditorium for 400 people. The new building will provide workplaces for office employees already wo...
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    Freudenberg-NOK to expand automotive sealing facility in US
    Freudenberg-NOK Sealing Technologies plans to expand its facility in Findlay, Ohio (United States) with an investment of USD8.6 million, says a press release. The company will expand the factory by 43,000 square feet and upgrade equipment. The expansion, due for completion in 2015, will create 25 additional jobs, and retain 148 present employees. The company is awaiting clearance from all Ohio workforce and incentive programmes, after  which the construction work will start. The company wil...
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    Cooper Tire’s Q1 net income down 10.3% y/y to USD41 million
    Cooper Tire & Rubber reported a 10.3% year-on-year (y/y) decrease in net income to USD40.7 million in the first quarter ended 31 March 2015, according to the company’s press release. The company's sales decreased 16.7% y/y to USD663.2 million and the operating profit was down 13.1% y/y to USD70.3 million during the period. Segmentally, North American Tire Operations sales increased 6.2% y/y to USD598.5 million; the segment’s profit increased 31% y/y to USD89.9 million. International ...
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    Failure to honour terms of buyout agreement led collapse of Cooper Tire sales to Apollo Tyres
    Cooper Tire & Rubber’s failure to honor the terms and conditions of its buyout agreement with Apollo Tyres doomed the sale of the US based tiremaker to its Indian suitor, Apollo’s lawyer John Hardiman said in court. According to a Bloomberg report, Apollo has requested Delaware Chancery Judge Sam Glasscock for a final ruling on Cooper’s missteps so that the Indian tiremaker can ask an appellate court to absolve it of responsibility for the deal’s demise. “Since the US tiremaker was...
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    Cooper Tire to establish Global Technical Centre in US
    Cooper Tire & Rubber will establish a Global Technical Centre (GTC), a worldwide centre of excellence for tire science and technology, advanced technology and innovation technology in Findlay, Ohio (United States) at the site of its existing North America Technical Centre (NATC), according to the company’s press release. The company will invest USD35.5 million in the facility that will employ 40 scientists and engineers on completion. The GTC is expected to be operational by the end of thi...
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    Cooper Tire shareholders file lawsuit against the company
    Two US-based law firms, Entwistle & Cappucci L.L.P. and Bernstein Litowitz Berger & Grossmann L.L.P, have filed a securities class-action lawsuit against Cooper Tire & Rubber on the behalf of shareholders over failed merger of the company with Apollo Tyres, reports Rubber News. The suit claims that Cooper Tire and some of its senior executive including, CEO Roy Ames and CFO Bradley Hughes, violated federal securities laws by allegedly issuing misleading statements and omissions which...
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    Apollo’s CFO blames Cooper Tire’s Chinese JV partner for failed acquisition
    Sunam Sarkar, CFO of Apollo Tyres, has cited the stubbornness of Cooper Tire’s Chinese joint-venture (JV) partner, Chengshan Cooper Tire, as the reason for the breakage of a merger deal between the two tiremakers. Sarkar, who is also a member of the board of directors at Apollo Tyres, told Forbes India in an interview that the US tiremaker was trying to sell the business to the Chinese partner even after it had signed an acquisition agreement with the company. “On the 12th of June, they ...
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    Cooper Tire terminates merger agreement, plans to pursue damages against Apollo
    Significance: Cooper Tire & Rubber has terminated the merger agreement with India-based Apollo Tyres, citing the latter's failure to secure financing for the deal. Implications: The deal, announced in June, met regulatory and labour resistance in the US, China and the UK. Both parties have accused each other of detrimental conduct and have promised to take legal action. Outlook: While Apollo has remained relatively unscathed so far, Cooper has the task at hand of restoring normal ope...
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    Apollo Tyres’ Q2 FY2013-14 net profit up 44.2% y/y to USD34.8m
    India-based Apollo Tyres has reported a 44.2% year-on-year (y/y) increase in net profit to INR2.2bn (USD34.8m, 30 September 2013) in the second quarter ended 30 September 2013, compared with INR1.5bn (USD28.8m, 30 September 2012) in the same period of the previous year, says a press release. The company’s operating profit was up 15.8% y/y to INR4.4bn (USD69.8m) from INR3.8bn (USD72m). Net sales stood at INR34.3bn (USD545m), an increase of 1.7% y/y over INR33.7bn (USD639.2m) reported in Q2 FY20...
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    Apollo Tyres seeks lower price for Cooper Tire deal – report
    Apollo Tyres’ offer to buy Cooper Tire & Rubber has run into rough weather. While the Indian company has sought to reduce bid price, this has been summarily rejected by the US tiremaker, reports The Economic Times. The two companies are also squabbling openly with Apollo accusing Cooper Tire of misrepresentations which has been denied by the latter. "Cooper has misrepresented its management and control of this asset to Apollo and to its own shareholders," Apollo said in a statement issued ...
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    Apollo Tyre purchase of Cooper hits another bump
    A US arbitrator has decided that Cooper cannot include two of its US unionised plants to India's Apollo Tyre. The decision was a result of grievances filed by the United Steelworkers union; the decision prohibits sale of the company's Texarkana, Arkansas, and Findlay, Ohio, plants unless Apollo Tyre establishes the United Steelworkers as the bargaining agents and establishes terms of employment that will be implemented at the closing of the merger. In India, investors have pulled out of Apollo. ...
    News
    Supplier investments (Feb 2013)
    Company Region Area of operation Comment American Axle & Manufacturing U.S. All Wheel Drive Systems American Axle & Manufacturing (AAM) is investing more than U.S.D100m in its Three Rivers Manufacturing plant in Michigan (U.S.). The investment, which is scheduled to be completed by December 2013, will include installation ...
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    Cooper Tire plans new technology centre at Findlay headquarters by end-2013
    Cooper Tire plans to open a new technology centre in Findlay, Ohio, according to Tire Review. The company plans to employ approximately 40 people for research including engineers, scientists, researchers and technicians for the centre. Significance: The tiremaker has received state a grant worth USD2.8m for this project. The company plans to invest USD40m over the next five years in this tech centre. The tech centre is anticipated to be ready by the end of 2013, the Tire Review report said.
    News
    Cooper Tire appoints Jeff Schumaker as Managing Director of Europe
    Cooper Tire has appointed Jeff Schumaker as Managing Director of its European unit, headquartered in Melksham, England, says the company’s press release. Schumaker will succeed Julian Baldwin, who is retiring on 31 January 2013. Schumaker's appointment is effective from 1 January 2013. Cooper Europe includes manufacturing facilities in the UK  and Serbia along with sales and marketing, technical and distribution operations throughout Europe. Schumaker has been working at Cooper Tire ...
    News
    Cooper Tire appoints Phil Kortokrax as Vice-President Manufacturing in US
    Cooper Tire & Rubber has named Phil Kortokrax as Vice President, Manufacturing, North America Tire Operations, reports Modern Tire Dealer. Kortokrax will be responsible for the company’s manufacturing operations in the US, which among other holdings, includes tire plants in Findlay, Ohio; Texarkana, Arkansas; and Tupelo, Mississippi. Kortokrax has been working with Cooper Tire for more than 20 years, started with positions in information technology and then transferred into manufacturi...
    News
    Cooper Tire net income rises 37.5% to USD22m in Q1 2012
    Cooper Tire has reported a net income of USD22m for the first quarter (Q1) ended 31 March 2012, an increase of 37.5% compared with USD16m in the year ago period. Operating profit also increased by 50% to USD48m from USD32m in Q1 of 2011. Sales of the company rose by 9.1% year-on-year (y/y) to USD984m against USD902m. The profits are attributed to improved price and mix of USD71m that offset higher raw material costs by USD8m. Sales were also affected negatively by USD31m due to the disrupted pro...
    News
    Cooper Tire reports 9% increase in operating profit to USD60m in Q4 2011
    Cooper Tire & Rubber Company has reported a 9% increase in operating profit to USD60m in the fourth quarter (Q4) ended 31 December 2011 compared with USD55m in the same period a year ago. An improved price and mix of USD128m more than offset USD119m of increase in raw materials cost. The company further says that USD5m of lower product liability costs, USD3m lower selling, general and administrative costs, including lower incentive-related expenses and USD2m of lower other costs contributed ...
    News
    UPDATE - Cooper Tire, USW reach tentative agreement at Findlay facility
    Cooper Tire and United Steel Workers (USW) Local 207L at the Findlay facility have reached a tentative agreement, says various media reports. The details of the five-year tentative agreement were presented to union members for ratification on 25 February and the voting session will be held on 27 February. Details about the date on which the employees will return to work will be released after the ratification of the tentative agreement. Jack Hamilton, Findlay plant manager, said, "Our main ob...
    News
    Cooper Tire reaches agreement with local union at Clarksdale facility in US
    Cooper Tire & Rubber has reached a four-year agreement with the United Steel Workers of America (USW) Local 556L at its Clarksdale facility in Michigan (US), the company said in press release on 17 February. The US-based tyre manufacturer said that the agreement has received an overwhelming approval from the members of the local union. "We are pleased that a new contract was reached that is acceptable to both the company and the union members," said Michael Allen, President of USW Local 556...
    News
    Cooper Tire, USW talks reach no conclusion on Findlay labour contract
    Cooper Tire and United Steel Workers (USW) Local 207L have again failed to reach any conclusion in a two-day meeting held on 6 and 7 February, say various media reports. Rod Nelson, President of USW Local 207L said that the recent offer was less than the terms offered to union workers at Texarkana facility where the four-year contract was renewed on 26 January. Also, Nelson informed that no further negotiations were planned for the rest of the week. Significance: This was not the first time w...
    News
    Cooper Tire, USW commence talks on Findlay labour contract
    Cooper Tire and United Steel Workers (USW) Local 207L union leaders commenced talks on 6 February regarding the renewal of labour contract at Findlay plant in Ohio (US) that expired in October 2011, says local news channel WTOL. However, there are no conclusions drawn after the six-and-half-hour meeting. The company and union leaders are said to continue the meeting on 7 February. Michelle Zeisloft, spokesperson for Cooper Tire, told media that she did not have any update on the latest negoti...
    News
    Cooper Tire, USW finalises new four-year labour contract at Texarkana facility
    United Steelworkers (USW) Local 752L have agreed upon a new four-year labour contract proposed by Cooper Tire as the earlier one expired this month, says a company press release. The agreement received 1,006 to 141 endorsements in a voting session that was held on 26 January. The new contract affects nearly 1,500 union members. The new contract will improve wages and provide other benefits over the four years. The company also spoke about plans to make additional investment in the facility. ...
    News
    Cooper Tire moves tyre production equipment from Findlay facility
    Cooper Tire has started moving out tyre production equipment from its Findlay, Ohio (US), facility that has locked out 1,050 employees since end-November 2011, says Tire Review, citing media reports. Local media Toledo Blade and Findlay Courier quoted the tyremaker as saying that “In addition to using highly skilled temporary workers to ramp up productivity in the Findlay plant, we have also taken other steps that include rebalancing our global capacity and moving some equipment from the Findl...
    News
    Cooper Tire, USW agree on tentative labour contract for Texarkana facility
    Cooper Tire and United Steelworkers (USW) Local 752L have reached a tentative agreement on a new four-year contract just before the previous contract was about to expire, says a company press release. The agreement details will be disclosed after a presentation is made to the union's membership which is scheduled for the last week of January. David Boone, President of USW Local 752L, said, "Of all the negotiations I have been involved with, this one was conducted in the most professional mann...
    News
    Cooper Tire, USW scheduled meeting on 12 January not happening—report
    Cooper Tire and USW's scheduled meeting for 12 January—with a federal mediator to talk about new labour contract at the Findlay facility—has been called off, reports Tire Review. The tyremaker informed that the meeting was not even scheduled. A Cooper Spokesperson informed a news channel, WTOL-TV, in Toledo that the company had not cancelled any negotiation sessions for 12 January or any day next week, whereas USW Local 207 President, Rodney Nelson told Findlay media that Cooper Tire had bac...
    News
    Cooper Tire hires ex-employees among temporary workers at Findlay facility
    The locked-out union workers outside Cooper Tire's Findlay facility in Ohio (US) told local news channel 10-WALB that redundant employees from the company’s Albany, Georgia facility were among the temporary workers brought in last week. Cooper Tire's Albany facility was shut down in 2009 affecting around 1,400 employees. Significance: Cooper Tire is yet to finalise a labour contract with the United Steelworkers (USW) at its Findlay facility that has been locked-out since the last week of No...
    News
    Cooper Tire, USW negotiations with federal mediator assistance fail
    The federal mediator who was appointed on Monday (5 December 2011) has failed to conclude negotiations between Cooper Tire and USW, reports Tire Review. Chris Ostrander, President of Cooper Tire North America said that negotiations are at a standoff and he is concerned that the union workers are getting negative feedbacks from union leadership about the meetings. Earlier this week, Ostrander had said "I don't believe that the folks out there that are locked out of this facility know that we a...
    News
    Cooper Tire faces charges from union workers
    The United Steelworkers (USW) Local 207L has filed charges against Cooper Tire with the National Labour Relations Board (NLRB) on 6 December 2011 stating that the company has committed unfair labour practices in bargaining and imposing a lockout at its Findlay tyre facility in the US, says a press release on the USW website. The USW said that the main reason for filing charges against the company was the missing details of an incentive plan in the new contract that the company had put forth. ...
    News
    Cooper Tire announces lockout at Findlay facility
    Cooper Tire has announced a lockout of its unionized workforce at its Findlay facility in the US as the company has been unsuccessful in negotiating an extension of its expired contract or reach an agreement on a new long-term contract with United Steelworkers Local 207L (USW), says a company press release. The negotiations between the company and USW began around three months ago. The union did not accept a proposal of a three-year agreement and voted it down by a 2:1 margin on 27 November. ...
    News
    Cummins to divest part of light duty filtration business to Industrial Opportunity Partners
    Cummins has signed a deal with Industrial Opportunity Partners, LLC (IOP), a private-equity firm to sell a part of its light duty filtration business, the company said in a release. The sale affects Cummins Kuss Filtration business in Findlay, Ohio (US), and Kuss operations in Sao Paulo (Brazil) and Shanghai (China) along with the Cummins Filtration business at Bloomer, Wisconsin (US). Details of the deal were not disclosed by the company. The filtration business offers a range of products for...
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    Cooper Tire receives USD1.5m grant from DOE
    Cooper Tire & Rubber has received a grant of USD1.5m from the US Department of Energy (DOE) to develop fuel-efficient tyres, reports Tire Review.  Cooper plans to develop a technology to produce an ultra-lightweight tyre which improves vehicle fuel efficiency by a minimum of 3%. The company will collaborate with DOE's National Renewable Energy Laboratory (NREL) for modelling and computational analysis of the new technology and its impact on tyre performance. The company will develop t...
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    Nissin Brake to invest US$60m to expand Ohio facility
    Nissin Brake Ohio will invest US$60m in equipment and building at its Dindlay, Ohio (US) plant, over a period of four years. Of the total amount, the company plans to invest US$25m by 31 March 2011. The company plans to manufacture automotive modulator component parts, such as master cylinder/boosters and brake assemblies, and finished Vehicle Stability Assist (VSA) modulators at the facility. The company plans to invest more than half of its current fiscal year’s investment in the Tall Tim...
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    Latest Investments
    Company Region Area of Operation Comment Brembo China Brake Systems 2 December 2009 - Brembo announced its plans to set up a new integrated manufacturing hub for brake systems for passenger cars and commercial vehicles in China. The company intends to invest 40m Euros in next four years with an aim of tripling the output of brake discs and callipers. Continental Romania R&D Centre 4 December 2009 - Continental opened a new office building of the Automotive Group R&D ...
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    Cooper Tire & Rubber expanding capacity in Findlay
    Since last one year, Cooper Tire & Rubber Co has been on an expansion spree. After capacity expansions in the US, Mexico and China recently, the company has now announced to expand its tire facility located in Findlay, Ohio (US). The company will invest an additional US$10m to add capacity via automation, cost improvements and retooling in an effort to support the ongoing market trends. Additionally, the company will employ as many as 100 people at the Findlay plant, increasing the total h...
    News
    Cooper Tire to expand facility in Mississippi
    Cooper Tire plans to expand its 900,000 ft2 facility located at Tupelo, Mississippi (USA). The company plans to construct a new mixing building on a 32,000 ft2 area. The expansion will cost US$6m and is expected to finish by April 2009. The move is in response to the company decision to close the facility in Albany, Georgia (USA) in December 2008 which employed 1,300 workers. The expanded facility will employ about 16 employees depending upon the demand for tires. In 2008, the company conduc...
    News
    Findlay Industries to shut down facilities in Findlay and Springfield
    Findlay Industries continues to seek a buyer but has announced that 215 workers in Findlay, Ohio (USA) and Springfield, Ohio (USA) will be out of job if the company cannot find a buyer. The truck supplier will close its two plants in Findlay along with its headquarters and a research and development centre, which employs about 148 workers. The company will also close its Springfield plant which has 67 employees.  The facilities will be closed on 18 July 2009. Although, Findlay is seeking f...
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    Cooper Tire to close facility in USA
    Cooper Tire & Rubber Company is to close its facility in Albany, Georgia (USA). The company conducted a study that urged the need to unify capacity and close one of the plants in USA in order to meet the demand of the customers. The closure of the plant will affect the net profit by US$150m to US$175m. Cooper intends to generate savings of US$75m to US$80m once the closure is implemented. The plant is expected to close operations in the next 12 months. The facility that employs 1,...
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    Johnson Controls to lay off 130 employees in Ohio
    Johnson Controls Inc. will permanently lay off nearly 130 employees from its West Carrollton facility, Ohio (US) by the end of September 2008. This job cut coincides with GM’s plans to reduce work at its Moraine facility at the same time. The facility has around 200 workers and produces seats for GM's sports utility vehicle assembly unit in Moraine (US). The supplier’s lay off decision followed GM’s announcement last week to end the second production shift at its Moraine facility by the ...
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    Lear Corp and Findlay Industries close U.S. production facilities
      Lear Corporation has announced the closure of its manufacturing facility based in Bridgeton, Missouri (USA) affecting 250 jobs. In the papers filed with the Missouri Department of Economic Development, the company cited lower profits and challenging automotive market conditions among the reasons for closing the facility. Lear is undergoing a significant restructuring and has closed around 20 facilities in North America and Europe in the last three years. The company has also recen...
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    Credit rating changes in July 2006
    Company New Rating Agency Comment ArvinMeritor Ba1, Ba2, Ba3, SGL-2, Negative Moody's Ratings on approximately $10.9m of ArvinMeritor, Inc.'s remaining notes that were issued under its 1990 indenture were downgraded and ratings affirmed on all of the company's other unsecured notes at Ba3. The action follows ArvinMeritor depositing approximately $11.9m of an investment in a money market fund into an escrow account for the benefit of note holders. There is insufficient documentation to s...
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    Cooper Tire and Rubber Company reports loss due to reduced production levels
    Cost increases from higher raw material prices and operational ineffiencies in some of its USA plants led Cooper Tire and Rubber Company to post a first quarter loss of US$5.15m in 2006, against a profit of US$5.21m in the first quarter 2005. The quarter suffered due to reduced mold and production levels in the company’s Texarkana plant in Arkansas (USA), and the transition to seven day continuous operations in the Findlay, Ohio (USA) plant. Even the combined effects of improved price, product...
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    Credit ratings
    Standard & Poors has issued a research note suggesting that "as bankruptcy becomes increasingly attractive for some US auto suppliers as a means of reducing costs" it is concerned "that such filings may become strategic options rather than last resort".Bankruptcy can allow suppliers to reduce a large range of costs and also obtain a better pricing relationship with its auto maker customers. S&P say that most of the recent bankruptcies of automotive suppliers have been prompted by factors...
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