AKRON, Ohio (KTAL / KSHV) – The only two genuine American tires are now officially one company.
Goodyear Tire & Rubber Company announced Monday that it has completed the acquisition of Cooper Tire & Rubber Company, finalizing the merger agreement made public on February 22.
Cooper, founded in 1914, is the fifth largest tire manufacturer in North America by revenue.
The company has around 10,000 employees in 15 countries, including a factory in Texarkana, Ark., Which reported in February that it employed more than 1,500 unionized workers.
Doug Grassian, director of external and digital communications for Goodyear, told KTAL / KSHV on Monday that the 60-year-old Texarkana plant will continue to operate, as will the other nine facilities.
âThere are no immediate plans to shut down the Cooper Tire facilities,â Grassian said.
The combination unites the two tire companies with products that complement each other, and will also bring services and capabilities under the Goodyear umbrella.
In addition, the amalgamated companies will bring together under one roof a variety of tire brands, including the Dunlop and Kelly brands of Goodyear, and the Mastercraft and Mickey Thompson brands of Cooper.
âWe are delighted to formally bring Goodyear and Cooper together and unite our common focus on customers, innovation and high quality products and solutions,â said Richard J. Kramer, president, CEO and president of Goodyear.
âThis combination strengthens Goodyear’s ability to serve more consumers globally and provides increased scale to support larger investments in new mobility and fleet solutions. “