Cooper Tire has completed its purchase of a 65% interest in China-based Qingdao Ge Rui Da Rubber (GRT) with terms which were previously announced.
GRT produces truck and bus radial (TBR) tyres for global markets and will manufacture TBR products to meet Cooper’s customer needs in North America, as well as in Asia and other markets.
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In the future, passenger car radial tyres may also be manufactured at the 1m-square-foot GRT facility, which has room for further expansion.
“Our partnership with GRT is an important step in Cooper’s strategic plan as it diversifies our TBR tyre supply beyond a single source,” said Cooper president & CEO, Brad Hughes.
“Cooper is committed to delivering quality tyres with value to our TBR customers. In addition to this new partnership with GRT, we continue to evaluate other options around the globe for additional sources of supply.
“We are pleased with the team at GRT as they possess deep industry and technical knowledge and there is a strong workforce in place at the facility, which offers space for expansion to accommodate future growth.”
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