Cooper tire completes purchase of majority interest in Chinese tire company.
The Cooper Tire & Rubber Company has purchased a 65 percent interest in China-based Qingdao Ge Rui Da Rubber (GRT).
GRT produces truck and bus radial (TBR) tires for global markets and will manufacture TBR tires to meet Cooper’s customer needs in North America, as well as in Asia and other markets.
“Our partnership with GRT is an important step in Cooper’s strategic plan as it diversifies our TBR tire supply beyond a single source,” said President & Chief Executive Officer Brad Hughes. “We are proud to welcome everyone at GRT into the Cooper family and look forward to many years of success together.”