Cooper Tire to Cease Light Vehicle Tire Production at England Facility

Cooper Tire & Rubber Company Europe Ltd., a subsidiary of Cooper Tire & Rubber Company (NYSE: CTB)  announced it will move forward with a previously announced proposal to cease light vehicle tire production at its Melksham, England facility. The plan is geared to help Cooper Tire Europe enhance its competitiveness in the global tire industry.

The collective consultation process with employee representatives at the facility, which began in October 2018, has concluded and it is expected that light vehicle tire production will be phased out over a period of approximately 10 months at the site with an estimated 300 roles eliminated. Cooper Tire Europe will obtain light vehicle tires to meet customer needs from other sites within Cooper’s global production network. Employees whose roles will be eliminated will receive appropriate notice, enhanced separation pay and continued career services.

Approximately 400 roles will remain in Melksham to support functions that will continue there, including motorsports and motorcycle tire production, a materials business, Cooper Tire Europe headquarters and sales and marketing, and the Europe Technical Center.

“We are doing all possible to assist impacted employees as we take this necessary step to enhance Cooper Tire Europe’s competitiveness, enable our growth plans and secure a sustainable long-term future for our business,” said Jaap van Wessum, General Manager – Cooper Tire Europe.

Category: General Update, News, Wheels & Tires