Cooper Tire & Rubber Company recently announced that it has closed the sale of its 65% ownership in Cooper Chengshan (Shandong) Tire Company Ltd (CCT) to Chengshan Group Company Ltd for approximately US$262 million net of taxes and including dividends in accordance with the previously announced option agreement.
“Resolving the ownership of CCT has been a key goal for us, and we are pleased to have it completed as we continue to execute our long-term growth plans for China,” Cooper CEO Roy Armes said.