Cooper Tire & Rubber Company has acquired a 65% stake in Chinese tire manufacturer 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. In the future, passenger car radial tires may also be manufactured at GRT’s 1,000,000ft² factory.
“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 and CEO Brad Hughes.
“Cooper is committed to delivering high quality tires with superior value. In addition to this exciting new partnership with GRT, we continue to actively evaluate other options around the globe for additional sources of supply. We are pleased with the team at GRT as they possess deep industry and technical knowledge and there is a strong workforce in place at the facility, which offers space for expansion to accommodate future growth. We are proud to welcome everyone at GRT into the Cooper family and look forward to many years of success together.”