Cooper expects Kenda venture in China on-stream in ´06
Findlay, Ohio -- Cooper Tire & Rubber Co. expects its tyre
production joint venture in China with Taiwan´s Kenda Rubber Industrial
Co. Ltd. to come on stream by year-end or early in 2007, slightly
behind schedule.
Cooper expects to get 1 million to 2
million units in 2007 from the venture, in Kunshan, China, according to
Philip Weaver, chief financial officer, speaking to analysts about
Cooper´s second quarter results.
The companies broke ground on the $200
million plant in July 2005. The factory originally was scheduled to
come on stream by late 2005, according to the firm´s statements in late
2003 when they announced the venture.
Cooper and Kenda are 50-50 partners in the
venture, but Cooper will get the plant´s entire output for the first
five years of production.
Cooper earlier said it anticipates
importing more than 1 million medium truck and economy passenger tyres
this year from China from off-take agreements. It called these sourcing
initiatives "important to the segment´s ability to profitably provide
tyre products to its customers in North America."
Cooper is sourcing medium truck radials and radial passenger tyres from China´s Hangzhou Zhongce Rubber Co. Ltd.
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