According to foreign reports, Chengshan Group announced that it will buy Cooper Tire at a price of 285 million U.S. dollars for more than 60% of its equity in the joint venture company, thus ending the dispute that lasted for one year. In June last year, Apollo Tire announced that it will spend 2.5 billion US dollars to buy Cooper Tire, the goal is to become the world's seventh-largest tire manufacturer. However, after the announcement of the merger and acquisition plan, both China and the United States were hampered. In particular, Cooper's response to the mountain was fierce. Thousands of employees were called on to strike several times to stop the completion of the plan. At the end of last year, Apollo Tire officially failed to acquire Cooper Tire, and Cooper’s relationship with its joint venture partner, Chengshan Group, has been difficult to recover. The two sides later hired an independent assessment agency to estimate the value of Cooper Chengshan. The Group also first obtained the decision-making power to determine the future direction of the joint venture. At the end of August this year, the above independent organization completed an assessment of the value of Cooper's Chengshan Mountain, with a valuation of US$438 million. At present, Chengshan and Cooper are 35 percent and 65 percent of their shares in the joint venture company. Cheng Shan executives said recently that the company will take over 65% of the shares held by Cooper at a price of USD 285 million. This decision represents the end of an eight-year cooperative relationship between Cooper and Chengshan Group. The joint venture plant is the largest manufacturing base of Cooper tires outside the United States. It is an important part of its expansion in China and has the ability to produce 1,500 annually. Ten thousand card passenger cars and passenger car radial tires. Analysts had previously believed that Chengshan Group would abandon its stake in Cooper Chengshan because it was difficult for the group to rely on a factory to achieve economies of scale, and its own brand lacked visibility in overseas markets. Liu Shuhong, senior manager of the Shanshan Group, said that thanks to the knowledge gained during the cooperation with Cooper, the company is ready to meet the challenges. According to the agreement reached by the two parties, Chengshan Group will continue to produce tires for Cooper for a period of time after it has fully controlled the formation of Cooper. Playsets for Small Yards Small Play Structure,Indoor Playground Structure,Soft Play Structure,Small Kids Indoor Playground Shenyang Golden Childhood playground equipment CO.,LTD , https://www.outdoor-playground.com
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