New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 15, 2014
08:16 EDTCTBCooper Tire, Chengshan Group enter CCT option agreement
Cooper Tire & Rubber Company announced it has entered into an option agreement with Chengshan Group Company Ltd. that affirms and provides additional details regarding the previously announced put and call process to resolve the future ownership of Cooper Chengshan, or CCT, as contemplated by the January 29 agreement among the two companies and the CCT labor union. In addition, the new option agreement extends the option commencement deadline, which is the deadline for the independent valuation firm to deliver its fair market valuation of CCT, to August 24. The process for determining the future ownership of CCT begins with an independent valuation of the fair market value of CCT. Once the valuation is delivered, Chengshan has the first option, within 45 days, to elect to purchase Cooper’s 65% interest, to sell its 35% interest to Cooper, or not to exercise either of these options. If Chengshan determines not to exercise either of the options, Cooper has the right to purchase Chengshan’s 35% interest. In the event that neither party elects to purchase the others’ interest, the joint venture continues as currently structured. Further, should Chengshan purchase Cooper’s stake in the joint venture, Cooper will continue to have offtake rights with CCT agreeing to produce Cooper-brand products, including Truck and Bus Radial tires, for a minimum of three years.
News For CTB From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 28, 2014
10:53 EDTCTBGoodyear Tire and Cooper Tiretrends improving, says Northcoast
Northcoast's work indicates Goodyear Tire (GT) and Copper Tires (CTB) September trends improved year-over-year. . The Northcoast Research Tire Demand Index rose to 60.2 at the end of period, which was up from the 53.6 in August. The firm remains confident the domestic replacement market is in experiencing a volume recovery and reiterates its Buy ratings on both Goodyear Tire and Cooper Tire.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use