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Cooper Tire & Rubber Company facts for kids
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| Subsidiary | |
| Traded as |
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| Industry | Manufacturing |
| Founded | 1914 (as M and M Manufacturing Company) Akron, Ohio, U.S. |
| Founders | John F. Schaefer Claude E. Hart |
| Headquarters | Findlay, Ohio, U.S. |
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Key people
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Thomas P. Capo (non-executive chairman) Bradley E. Hughes (president & CEO) Chris Eperjesy (vice president & CFO) |
| Products | Tires |
| Revenue |  US$ 2.52 billion (2020) |
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Operating income
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 US$ 231 million (2020) |
| US$ 143 million (2020) |
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| Total assets | US$ 2.972 billion (2020) |
| Total equity | US$ 1.411 billion (2020) |
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Number of employees
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10,000 (2020) |
| Parent | Goodyear Tire and Rubber Company |
| Subsidiaries | Avon Tyres Mastercraft Tires Mickey Thompson Tires & Wheels Roadmaster Tires Dean Tires StarFire Tires |
Cooper Tire & Rubber Company is an American company that makes tires for cars, trucks, and even racing vehicles. Its main office is in Findlay, Ohio. Cooper Tire has many factories and offices around the world. This includes the Avon Tyres brand in the UK, which makes tires for motorcycles and race cars.
Cooper Tire was a public company, meaning its shares could be bought and sold on the stock market. It was listed on the New York Stock Exchange until June 2021. At that time, another big tire company, Goodyear, bought Cooper Tire. The company's slogan is "The tire with two names ... the company and the man who built it."
Contents
Cooper Tire's Story
How it Started
The company that became Cooper Tire began in 1914. It was called M and M Manufacturing Company. John F. Schaefer and Claude E. Hart started it in Akron, Ohio. They made tire patches and repair kits.
In 1920, they bought The Giant Tire & Rubber Company. This business rebuilt old tires. Two years later, in 1922, they moved the company to Findlay, Ohio. Cooper Tire is still located at this same spot today.
The "Cooper" name came from I. J. Cooper. He was a car parts dealer who started the Cooper Corporation in 1919 to make new tires. In 1930, the Cooper Corporation, M and M Company, and Falls Rubber company joined together. They formed the Master Tire and Rubber Company. The company's name officially changed to Cooper Tire & Rubber Company in 1946.
The Cooper Logo
The oval Cooper trademark, with a knight's helmet, was first used in 1941. In the early days, the logo also said the tires had "armored-cord" construction. The company's red, white, and blue logo became well-known in the tire world.
Helping During World War II
During World War II, the company was known as Master Tire and Rubber. It made many things for the Allied forces. This included pontoons, landing boats, waterproof bags, and even fake tanks. Of course, they also made tires. In 1945, the U.S. government gave the company an award for its great help during the war. Soon after the war, in 1946, the company changed its name to Cooper Tire & Rubber Company.
Becoming a Public Company
From 1946 to 1982, members of the Brewer family led Cooper Tire. W.B. Brewer was the first, followed by his sons, Wayne and Edward. W.B. Brewer made Cooper Tire a public company. On July 11, 1960, its shares were listed on the New York Stock Exchange.
The Brewer family was known for being very involved in the company. They worked closely with employees and took care of them. This helped build trust and loyalty among the workers. Under their leadership, Cooper Tire grew a lot. By 1983, it was one of the largest industrial companies in the United States.
Joining Goodyear
On February 22, 2021, Goodyear Tire and Rubber Company announced it would buy Cooper Tire. The deal was for about $2.8 billion. The purchase was completed in June 2021. After the deal, Cooper shareholders owned about 16% of the new, combined company.
Global Growth and Partnerships
Cooper Tire has grown by buying other companies and working with partners around the world.
- In 1997, Cooper bought Avon Tyres Ltd. in Melksham, England.
- In 1999, Cooper bought the Standard Products Company. This added 10,000 employees to Cooper's team.
- In 2003, Cooper started a joint project with Kenda Rubber Industrial Company. They built a tire factory near Shanghai, China.
- In 2005, Cooper bought part of South Korea-based Kumho Tires Company.
- Also in 2005, Cooper gained control of China's third-largest tire maker. This company, Cooper Chengshan, makes tires for cars and trucks in China and for export.
- In 2011, Cooper bought a part of a Serbian tire company called Trayal Corporation. This new company was named "Cooper Tire & Rubber Company Serbia."
- In June 2020, Cooper announced a new distribution center in Whiteland, Indiana. This center opened in early 2021. It helps store and send out more products.
Tire Brands
Cooper Tires
Cooper Tires makes tires under its own name. These tires are for passenger cars, light trucks, and SUVs. They also make tires for commercial trucks.
Avon Tyres
In 1997, Cooper bought the tire business from Avon Rubber in the United Kingdom. Cooper Tire became a big employer in Melksham, England. This town was Cooper's European headquarters. In 2018, they focused production on racing and motorcycle tires. In October 2022, Cooper announced plans to close the Melksham site by the end of 2023.
Other Brands
Besides Cooper and Avon, the company makes tires under other names. These include Dean, Mastercraft, Mickey Thompson, Roadmaster, and Starfire. Cooper Tire also used to make tires for Sears stores. Today, Cooper makes tires for Discount Tire Company under the Arizonian brand. They also make Futura Tires for Pep Boys. You can buy Cooper tires at many stores like Tire Discounters and Discount Tire.
Racing and Sponsorships
Cooper racing tires (A1GP)
Cooper has been involved in many motorsports events.
- Cooper became the official tire for the A1 Grand Prix racing series in 2005. This series was called the "World Cup of Motorsports."
- Since 1982, Avon Tyres has been the only tire supplier for the British Formula Three Championship. From 2009, these tires were rebranded as "Cooper."
- Avon Tyres was also the only supplier for the FIA Formula Two Championship from 2009 to 2012.
- In 2010, Cooper became the official tire for the IMSA Prototype Lites series.
- Cooper Tires is the official supplier for the Mazda Road to Indy racing series. This includes USF2000 (since 2010), Pro Mazda (since 2013), and Indy Lights (since 2014).
- Since 2014, Cooper has been the official supplier for the FIA World Rallycross Championship. The Americas Rallycross Championship also uses Cooper Tires.
- In 2017, Avon Tyres became a sponsor for the football team Derby County.
- In 2020, during the COVID-19 pandemic, Cooper helped create virtual races using a racing simulation platform.
Company Leadership
As of 2016, Cooper had about 10,540 employees. Bradley E. Hughes is Cooper's president and CEO.
See also
- List of tire companies