Product
Cooper Tire Races into China
Shanghai, China, March 31, 2006 – Cooper Tire & Rubber Company (NYSE:CTB) today announced its debut in the China market with the introduction of the Cooper brand soon to be available in China. The announcement was made at Cooper Tire’s “Pit Stop China” press conference in conjunction with the A1 Grand Prix race which takes place on Sunday in Shanghai. Cooper Tire is the official tire for the A1 Grand Prix, which is also known as the World Cup of Motorsports.
Thomas A. Dattilo, Chairman, President and CEO of Cooper Tire & Rubber Company said, “We are excited to introduce our brand into the Chinese market. We have great respect and high expectations for China and this country will be very important to our future plans.”
Cooper Tire is one of the global leaders in the replacement tire industry, being the fourth largest manufacturer in North America and the eighth largest worldwide. Its manufacturing and technical facilities are spread across three continents: North America, Europe and now Asia. Dattilo also said that while the company already had broad sales and distribution networks covering much of the world, Cooper is busy designing a complete line of Cooper brand tires designed especially for the Chinese market. The lines will be tested in a few markets during 2006 with a full launch in early 2007.
Cooper Tire recently acquired majority ownership of Shandong Chengshan Tire Company, China’s third largest domestic producer. With technology support from Cooper’s technical centers around the world, this facility will produce premium Cooper-branded tires for the Chinese market. Cooper also has a plant under construction as part of a joint venture with Kenda Rubber Industrial Co. Ltd. That plant is located in Jiangsu Province. Production is expected to begin in the third quarter 2006 with annual capacity of 10-12 million radial passenger and light truck tires for export to Cooper customers in North America and Europe.
Cooper covers a huge spread of the tire market, from ultra-high performance sports cars to family sedans, SUV and 4x4, vans and trucks to superbikes, as well as special tires such as winter tires and tires used on the race track. Cooper also has a strong motorsports heritage and a special racing arm, Cooper Tire Motorsports. The Cooper A1 slick tire is specially designed for A1 GP and can cope with up to 550 bhp and full-throttle acceleration. In addition to A1, Cooper also provides tires for drag racing, road racing, off-road racing and motorcycle racing as well as trackside support for racers at more than 200 venues each year.
“We believe the A1 Grand Prix event is a great opportunity to launch our brand in China as we showcase our product and technology on the track,” Dattilo continued, “Cooper is the perfect global brand for the A1 Grand Prix, as we are dynamic, innovative and international as is this unique series. We look forward to growing in the Chinese consumer market and with this new sport together over the coming years. We wish this weekend’s A1 Shanghai Grand Prix the best success! “
The press conference was attended by journalists representing business, auto enthusiasts and lifestyle media as well as government officials, suppliers and customers.
About Cooper Tire & Rubber Company
Cooper Tire & Rubber Company is a global company that specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck tires and subsidiaries that specialize in motorcycle and racing tires, as well as tread rubber and related equipment for the retread industry. With headquarters in Findlay, Ohio, Cooper Tire has 60 manufacturing, sales, distribution, technical and design facilities within its family of companies located around the world. For more information, visit Cooper Tire's web site at: www.coopertire.com
Cooper’s Asia Pacific Headquarters are located in the Shanghai Hongqiao Development Zone.
The company has more than 14,000 employees worldwide.
Cooper currently has 9 proprietary brands: Cooper, Mastercraft, Dean, Starfire, Avon, Dominator, Mickey Thompson, Dick Cepek, Chengshan and Austone.
Company Contact: Pat Brown, 419-424-4370