728 banner ad
220 banner ad

Cooper Tire and Sailun Vietnam Celebrate First Tire at Joint Venture Plant

| November 27, 2019

The plant is expected to be operational and producing tires on a commercial level by early 2020

Cooper Tire & Rubber Company (NYSE: CTB) and Sailun Vietnam Co., Ltd. recently celebrated production of a first tire at ACTR, their new joint venture (JV) facility located near Ho Chi Minh City, Vietnam. Cooper owns 35 percent of ACTR, which will produce truck and bus radial (TBR) tires for global markets. The ceremonial first tire was the centerpiece of a special event held at the facility on Nov. 18 to celebrate construction of the plant.

The plant is expected to be operational and producing tires on a commercial level by early 2020. At full capacity, production is expected to be approximately 2 million tires annually.

“Cooperation between Cooper and Sailun has been outstanding, and we thank our partner Sailun for working so closely with us over the past several months to construct this facility,” said Brad Hughes, Cooper President & Chief Executive Officer. “This is another important step in Cooper’s strategy to expand and diversify our TBR production globally, giving us additional capacity to supply quality Roadmaster TBR tires to customers worldwide.”

Zhongxue Yuan, Chairman & President of Sailun Group Co. Ltd., said, “ACTR is a highly modern tire production facility with the latest technologies to drive quality and efficiency. We thank Cooper and all of those involved in the construction of the facility for their excellent support and cooperation. We look forward to many years of successful operation together with Cooper at ACTR.”

It is not possible to foresee or identify all such factors. Any forward-looking statements in this release are based on certain assumptions and analyses made by the company in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Prospective investors are cautioned that any such statements are not a guarantee of future performance and actual results or developments may differ materially from those projected.

The company makes no commitment to update any forward-looking statement included herein or to disclose any facts, events or circumstances that may affect the accuracy of any forward-looking statement. Further information covering issues that could materially affect financial performance is contained in the company’s filings with the U.S. Securities and Exchange Commission (“SEC”).

Category: Featured, Fleet Maintenance, General Update, News, Wheels & Tires

Comments are closed.