After the US tire manufacturer Cooper Tire gave up its plans for $2.5 billion in mergers and acquisitions with Apollo Tire of India, its cooperation with China’s joint venture partner Chengshan Group also saw new changes. Cao Kechang, general manager of Cooper Tire Asia Pacific, told the media that at present, the joint venture company of Cooper Tire and Chengshan Group in Shandong has been repurchased by Chengshan Group, and Cooper will seek new partners or production bases in China. The agreement, Chengshan Tire Factory will also service Cooper Tire, which will produce a series of Cooper's tires. It is understood that Cooper Chengshan (Shandong) Tire Co., Ltd. is a joint venture between Chengshan Group and Cooper Tire, and the share ratio of the two parties is 35:65, due to which Cooper Tire plans to sell it to Apollo India and Cooper Chengshan Co. Disagreed with this project, which led to the renegotiation of cooperation between Chengshan Group and Cooper Tire. Cao Kechang revealed that last year the two parties reached an agreement and the Chengshan Group repurchased 65% of the shares. The settlement has been completed and the Chengshan Plant is now part of the Chengshan Group. , But Chengshan Group will produce OEM tires for Cooper for three years. Cooper is the second largest tire brand manufacturer in the United States. There were two major production bases in Chengdu and Kunshan in China. The Chengshan plant has the largest production capacity. Its products are mainly exported to the domestic market in addition to exports, while the Kunshan base is mainly used Exports, it is reported that the products of Kunshan base are currently available for the domestic market. Cao Kechang stated that the production capacity of tires in one production base can not meet the market demand, and Cooper in China will seek new partners.
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