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Showing results for Logan v. Cooper Tire and Rubber Company
...Tire & Rubber, building a tyre plant in Vietnam with joint-venture partner Sailun....
...Smaller rival Cooper Tire & Rubber also saw its shares knocked 6.7 per cent lower on the dimmer outlook for tyre sales....
...While Chengshan will continue to manufacture tyres for Cooper until at least 2018, the US company is considering alternative supply options in China and other countries....
...Its flagship tyre unit is China National Tire and Rubber, which in turn controls four tyre companies including Aeolus Tyre Company....
...The Chinese tyre manufacturer that wrecked Apollo Tyres’ planned acquisition of Ohio’s Cooper Tire will exercise its right to take over the US company’s largest factory, ending a bitter year-long commercial...
...Cooper and Chengshan subsequently agreed to a divorce: the Chinese company bought out its US partner’s stake for $285m last month....
...Cooper Tire and Rubber fell as much as 9.5 per cent before recovering to close 5 per cent lower at $35.82 after the Ohio-based tyremaker reported weaker than expected earnings....
...When workers there objected to the sale of Ohio-based Cooper Tire & Rubber to Apollo Tyres of India, they simply seized the factory and refused to surrender it until the acquisition was abandoned....
...Chinese industrial action cost Cooper Tire $29m in the three months to September 30, the Ohio-based company reported, shedding rare light on the economic impact of a labour dispute in the country....
...Workers at Cooper Chengshan Tire (CCT), a joint venture between Cooper and China’s Chengshan Group, seized control of the factory, threw out Cooper management representatives and stopped making Cooper-branded...
...But those jilted at the altar face an ugly fallout, as Cooper Tire & Rubber is learning, as its sale to India’s Apollo Tyres founders....
...What would have been the biggest-ever acquisition of a US company by an Indian buyer was steered off-track almost as soon as it was announced, when workers at the Cooper Chengshan Tire factory in Shandong...
...Industrial action erupts daily across China and over recent months has affected the operations of multinationals such as IBM, Cooper Tire and Rubber of Ohio and Yue Yuen Industrial, a shoe manufacturer....
...Workers at Cooper Chengshan Tire, of which Cooper owns 65 per cent, threw out most Cooper-appointed managers in protest at the merger and have cut off Cooper from most financial information about the subsidiary...
...often called, because Cooper Chengshan Tire (CCT), Cooper Tire’s joint venture in China, provides nearly 25 per cent of the US group’s revenue....
...The stock is enjoying a nice run this week, having lost some 15 per cent since June 12, when the Indian group announced plans to acquire Cooper Tire and Rubber in a $2.5bn deal set to be the largest takeover...
...That was the impression from Monday’s statements from both the US’s Cooper Tire & Rubber and India’s Apollo Tyres after Cooper announced it was giving up efforts to force Apollo to complete its planned $2.5bn...
...Apollo Tyres attempted to buy the larger, US-based Cooper Tire & Rubber for $2.5bn in cash. Apollo’s shareholders immediately panned the deal, given the debt required....
...Relations between India’s Apollo Tyres and Cooper Tire of the US took a turn for the worse on Friday when Cooper took legal action to force Apollo to conclude their planned $2.5bn merger....
...Cooper Tire and Rubber, which is due to sell itself to India’s Apollo Tyres, is reviewing its options on how to respond to an arbitrator’s blocking of part of the $2.5bn deal on the grounds it had been agreed...
...Group’s 35 per cent stake in Cooper Chengshan Tire (CCT)....
...India’s Apollo Tyres won a significant victory in its legal tussle with Cooper Tire and Rubber, which it agreed to take over in June, when a judge ruled that it had not reneged on key commitments in its...
...India’s Apollo Tyres wants a reduction in the price it is to pay to acquire Cooper Tire, saying it faces “significant and unanticipated costs” relating to labour relations issues and accusing the US company...
...Top shareholdings: Resolute Forest Products; Dex Media; Cooper Tire & Rubber Company; IBM; Merck & Co; New York Times. Portfolio Value: $2.5bn....
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