OHIO-headquartered Cooper Tire & Rubber Company has reported record sales for the fourth quarter and full year of 2012, with the fourth quarter net sales record of US$1.1 billion, an increase of 2% or US$24 million compared with the same period the previous year.
For the year ending December 31, 2012, Cooper has reported record net sales of US$4.2 billion, an increase of 7% or US$293 million, from 2011.
Meanwhile, the company’s North America Tyre Operations achieved net sales of US$811 million during the fourth quarter, up 5% from fourth quarter 2011’s net sales of US$771 million.
“A strong fourth quarter capped off a great year,” said Cooper’s Chief Executive Officer, Roy Armes. “Cooper Tire closed 2012 with record fourth quarter and full-year net sales and operating profit. Despite challenging global economic and industry conditions, our employees around the world continued to execute our strategic initiatives including diversifying our channel and product mix for light vehicle tires as well as expanding volumes in the truck-bus radial tire segment. Due in large part to successful product launches and demand for our products, the company has increased unit volumes and outpaced the industry in our key markets for the full year.”
He said that amongst Cooper’s2012 achievements in its international segment was the purchase of the tyre manufacturing assets in Serbia, a facility that has already produced its one millionth tyre and accountable for driving volume growth for the total International segment in the fourth quarter.
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