Vikrant
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- Apr 20, 2013
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TOLEDO, Ohio (AP) A tire maker whose main market is in India is buying Ohio's Cooper Tire & Rubber Co. for $2.2 billion and making a commitment to maintain the company's three U.S. manufacturing plants and retain its management operation in Ohio, Cooper's chief executive said Wednesday.
India's Apollo Tyres Ltd. said the combined company will be the world's seventh-largest tire maker and have a strong foothold across four continents.
Their tire brands include Apollo, Cooper, Roadmaster and Vredestein.
The deal gives Apollo access to markets in the U.S. and China while Cooper gets a premium price per share and some assurances that its domestic operations won't be gutted.
Cooper CEO says buyer committed to US operations - seattlepi.com
India's Apollo Tyres Ltd. said the combined company will be the world's seventh-largest tire maker and have a strong foothold across four continents.
Their tire brands include Apollo, Cooper, Roadmaster and Vredestein.
The deal gives Apollo access to markets in the U.S. and China while Cooper gets a premium price per share and some assurances that its domestic operations won't be gutted.
Cooper CEO says buyer committed to US operations - seattlepi.com
