Cooper Tire raises its share in Mexico branch

Cooper Tire recently announced that it will increase its shareholding in the Mexican branch.

Cooper plans to increase its shareholding in Corporacion de Occidente SA de CV from 38% to 58%. From 2011, Occidente's financials will be incorporated into Cooper.

Cooper also plans to increase its shareholding in Cooper Mexico Tire & Rubber Co. from the current 50% to 100%. Cooper Mexico Tire & Rubber Company is engaged in the tire marketing business. Cooper Tire achieved 100% control over Cooper's Mexican tire rubber company by converting debt into equity.

Roy Armes, President, CEO and President of Cooper, stated: “We are very pleased to increase our company’s share in Mexico. We will continue to invest in Mexico and continue to expand Cooper’s market share in Mexico.”

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