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Goodyear CEO Rich Kramer: Volumes improving

Goodyear CEO Rich Kramer: Volumes improving
tirebusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tirebusiness.com Daily Mail and Mail on Sunday newspapers.

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Our View: Goodyear, Cooper deal historic moment in tire history

Our View: Goodyear, Cooper deal historic moment in tire history
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Though we are certain Feb. 22, 2021, will be a historic pivot point in the annuls of tire industry history, we can only wait and wonder about what it will mean for the future of the industry.
Akron-based Goodyear, the No. 3 global tire maker, struck a deal to purchase Findlay, Ohio-based Cooper Tire & Rubber Co., the No. 13 largest tire maker in the world, for around $2.5 billion ($2.8 billion in equity with $300 million in cash on hand in Cooper s coffers).
Or as we like to say from our home offices around Akron, Ohio s top two tire makers have agreed to join forces. ....

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Goodyear CEO Richard Kramer: The Cooper Tire deal 'simply makes sense for both of us'

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AKRON When Goodyear made its initial inquiry combining the top two U.S.-based tire manufacturers, situated 132 miles apart, both with a century of history behind them executives at Cooper Tire & Rubber Co. said they felt comfortable with their company’s current trajectory.
“We were feeling quite good about the strategy and direction of the company,” Cooper CEO and President Bradley Hughes said.
Once serious talks commenced, Mr. Hughes said it became clear Goodyear’s offer to purchase Cooper for $2.5 billion in a cash and stock deal was the right one for two reasons.
“Ultimately we needed to represent our shareholders, and Goodyear, first of all, presented a very compelling offer for the company,” Mr. Hughes said, “and secondly, very compelling strategic logic . really positions the combined entity to be successful going forward.” ....

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