Posted on 06/12/2013 9:53:55 AM PDT by Jyotishi
India's Apollo Tyres Ltd (APLO.NS) agreed to buy U.S.-based Cooper Tire & Rubber Co (CTB.N) for about $2.5 billion in a deal that would make it the world's seventh-largest tire maker and reduce its dependence on a slowing Indian auto market.
Apollo, which currently gets two-thirds of its revenue from India, will pay $35 per share, representing a premium of about 43 percent to Cooper's Tuesday close.
The acquisition of Cooper, the world's 11th biggest tire company with annual sales of $4.2 billion, will give Apollo access to the U.S. market for replacement tires for cars and light and medium trucks.
.....
The deal is the latest in a string of big overseas acquisitions by Indian companies in recent years, including Tata Motors Ltd's (TAMO.NS) $2.3 billion purchase of Jaguar Land Rover and mobile operator Bharti Airtel Ltd's (BRTI.NS) $9 billion takeover of the African operations of Kuwait's Zain.
(Excerpt) Read more at reuters.com ...
I believe that Cooper was the last US owned tire maker.
Remember Kelly Springfields. both cooper and kelly made a fine t’ar in their day.
Cooper CS4’s on my car.
Nice tires.
I take this to mean the quality will be abominable soon.
Drats.
***I take this to mean the quality will be abominable soon.***
Could not be worse than the 1975 production of US made FIRESTONE tires. I bought a truck with five new ones. They each self destructed as each one reached about 5000 miles.
Each time I was in the middle of nowhere.
Last Tractor tires we bought about a month ago were made in Israel.
KS was owned by Goodyear since 1935.
You really ARE an old timer....
Kosher rubber?
*Gack!*
Well, that would make for an interesting night!
Hey....more call center business....Indian owned....crap products
I worked at a local old DX gas station, they sold lots of tires,, I was barely a teen.. my brother was the mechanic there.. the fellow that ran it was oft pied eyed by 7 .. am.. not pm.. it beat pickin’ rocks.. I did that to earn my first dirt bike.. and last. (
“Kosher rubber?”
Absolutely! My family hales from Louis Brandeis...doesn’t get much more Kosher than that~ and no...I do not support the University~ no way, no how!
Mahindra Tractors, the farm equipment division of Mahindra & Mahindra, builds and sources tractors that are sold worldwide across six continents.[1] Mahindra is also among the top three tractor manufacturers in the world.[2] Mahindra has a huge consumer base in India, China and America and a growing base in Australia. The company builds more tractors in India than any other manufacturer,[3] and has the capacity to build 150,000 tractors a year.[4] In 1963, M&M formed a joint venture with International Harvester to manufacture tractors carrying the Mahindra nameplate for the Indian market.[5] Armed with engineering, tooling and manufacturing know-how gained from this relationship, M&M developed its first tractor, the B-275. Mahindra Tractors with sales of nearly 85,000 units annually is one of the largest tractor companies in the world, and is number one in sales in India - the largest tractor market in the world
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