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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 (Nonexecutive 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 and trucks. It also has other companies that make tires for medium trucks, motorcycles, and race cars. Cooper Tire is based in Findlay, Ohio, in the U.S.
The company has 60 places around the world where it makes, sells, or designs tires. This includes the Avon Tyres brand in the UK. Avon Tyres makes tires for motorcycles, regular cars, and race cars.
From 1960 until 2021, Cooper Tire was a public company. This means its shares could be bought and sold on the New York Stock Exchange. In June 2021, another big tire company called Goodyear bought Cooper Tire.
Cooper Tire's slogan is: "The tire with two names ... the company and the man who built it."
Contents
History
How it Started
The story of Cooper Tire began in 1914. Two men, John F. Schaefer and Claude E. Hart, started a company called M and M Manufacturing Company in Akron, Ohio. They made things like tire patches and repair kits.
In 1920, they bought another company called The Giant Tire & Rubber Company. In 1922, they moved their business to Findlay, Ohio. The Cooper name came from I. J. Cooper, who started the Cooper Corporation in Findlay in 1919 to make new tires.
In 1930, the Cooper Corporation, the M and M Company, and another company called Falls Rubber merged. They formed the Master Tire and Rubber Company. Later, in 1946, the company's name officially changed to Cooper Tire & Rubber Company.
The famous Cooper oval logo with the Cooper Knight helmet was first used in 1941. This logo helped people easily recognize Cooper tires.
During World War II
During World War II, the company was known as Master Tire and Rubber. It made many important items for the Allied forces. These included pontoons (floating supports), landing boats, waterproof bags, and even fake tanks for camouflage. They also kept making tires.
In 1945, the U.S. government gave the company an award called the Army-Navy ‘E’ Award. This award was for their excellent work during the war. 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 made Cooper Tire a public company. On July 11, 1960, its shares were listed on the New York Stock Exchange.
Under the Brewers' leadership, Cooper Tire grew a lot. By 1983, it became one of the largest industrial companies in the United States. It joined the list of Fortune 500 companies.
Goodyear Buys Cooper
On February 22, 2021, Goodyear Tire and Rubber Company announced it would buy Cooper Tire. The deal was worth about $2.8 billion. The purchase was completed in June 2021. After the deal, Cooper shareholders owned about 16% of the new, combined company.
Growing Globally
Cooper Tire grew by buying other companies and working with partners around the world.
- In 1997, Cooper bought Avon Tyres Ltd., a tire company based in Melksham, England.
- In 1999, Cooper bought Standard Products Company. This was a big step that added 10,000 employees to Cooper's team.
- In 2003, Cooper started a joint project with Kenda Rubber Industrial Company to build 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, Cooper Chengshan. This helped them make tires for 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 it would open a new large storage and distribution center in Whiteland, Indiana. This new center helps them store more products.
Tire Brands
Cooper Tires
Cooper Tires makes tires under its own "Cooper" brand. These tires are for passenger cars, light trucks, sport utility vehicles (SUVs), and commercial trucks.
Avon Tyres
In 1997, Cooper bought the tire part of Avon Rubber in the United Kingdom. Cooper Tire became a major employer in Melksham, England, which was Cooper's European headquarters. In 2018, the Melksham factory started focusing only on motorsport and motorcycle tires. The company plans to close this site by the end of 2023.
Other Brands
Besides Cooper and Avon, the company also makes tires under other well-known names. These include Dean, Mastercraft, Mickey Thompson, Roadmaster, and Starfire. Cooper also makes tires for other companies, like Arizonian tires for Discount Tire Company and Futura Tires for Pep Boys. You can find Cooper tires at many different tire stores.
Motorsports and Sponsorships
Cooper racing tires (A1GP)
Cooper Tire is involved in many racing events. They make special tires for race cars.
- Cooper became the official tire for the A1 Grand Prix series, also known as the World Cup of Motorsports, starting in 2005.
- Since 1982, Avon Tyres (now part of Cooper) has been the only tire supplier for the British Formula Three Championship. From 2009, these tires were rebranded as "Cooper."
- Avon Tyres also supplied tires for the FIA Formula Two Championship from 2009 to 2012.
- In the United States, Cooper became the official tire for the Champ Car Atlantic Championship in 2007.
- Cooper Tires is also the official supplier for the Mazda Road to Indy racing series, including USF2000, Pro Mazda, and Indy Lights.
- Since 2014, Cooper has been the official supplier for the FIA World Rallycross Championship.
In 2017, Avon Tyres became a sponsor for the English football team Derby County. In 2020, during the COVID-19 pandemic, Cooper helped organize virtual races using a racing simulation platform.
Management
As of 2016, Cooper Tire had about 10,540 employees. The current president and CEO of Cooper is Bradley E. Hughes.
See also
- List of tire companies