Combining brand portfolios, manufacturing and distribution opportunities and the possibility to extend investment in new mobility and fleet solutions, Goodyear’s acquisition of the Cooper Tire & Rubber Company will strengthen its global position within the tyre industry.
Goodyear Finalises Merger Agreement with Cooper Tire & Rubber
The Goodyear Tire & Rubber Company has announced on 7th June the finalisation of its acquisition of the Cooper Tire & Rubber Company, which was first announced as a merger agreement on 22nd February. The combination will unite the two companies’ complementary product portfolios, as well as the services and capabilities to extend its value spectrum across the markets, making it easier for customers and consumers to choose Goodyear and Cooper brand tyres.
“We are excited to officially bring Goodyear and Cooper together and unite our shared focus on customers, innovation and high-quality products and solutions, explained Richard J. Kramer, Goodyear chairman, chief executive officer and president. This combination strengthens Goodyear’s ability to serve more consumers globally and provides increased scale to support greater investments in new mobility and fleet solutions,”
As well as strengthening Goodyear’s position in the U.S. market, this will help nearly double Goodyear’s presence in China, while creating a broader reach for Cooper replacement tyres distribution through Goodyear’s retail stores. There will also be an increased scale of support investments in new mobility and fleet solutions, as Goodyear will enhance their base of traditional OE manufacturers, as well as emerging manufacturers, autonomous driving system developments, as well as new and established fleet operators.