AKRON, Ohio (KTAL/KSHV) – The only two genuine American tires are now officially one company.
Goodyear Tire & Rubber Company on Monday announced it has completed its acquisition of Cooper Tire & Rubber Company, finalizing the merger agreement made public on February 22.
Cooper, founded in 1914, is the fifth largest tire maker in North America based on revenue.
The company has about 10,000 employees in 15 countries, including a plant in Texarkana, Ark., which in February reported it employed more than 1,500 union workers.
Doug Grassian, director of External and Digital Communications for Goodyear, on Monday told KTAL/KSHV that the 60-year-old Texarkana plant will continue to operate, as will the other nine facilities.
“There are no immediate plans to close Cooper Tire facilities,” Grassian said.
The combination unites the two tire companies with products that compliment one another, and also will bring services and capabilities under the Goodyear Umbrella.
In addition, the merged companies will abring an array of tire brands together under one roof, including Goodyear’s Dunlop and Kelly brands, and Cooper’s Mastercraft and Mickey Thompson brands.
“We are excited to officially bring Goodyear and Cooper together and unite our shared focus on customers, innovation and high-quality products and solutions,” said 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.”