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Goodyear formally acquired Cooper to achieve a combination of advantages

 Last Update: 2021-06-17
 Source: Internet
 Author: User

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On June 7, Goodyear Tire & Rubber Company announced that it had officially completed the acquisition of Cooper Tire & Rubber Company
.

This acquisition will integrate the advantages of the two outstanding tire manufacturers in terms of product portfolio, service and production capacity, thereby consolidating Goodyear's leading position in the global tire industry

Richard Kramer, Chairman, CEO and President of Goodyear said: "We are very pleased to be able to merge Goodyear and Cooper
.

Both of us focus on customers, innovative development and high-quality products and Mobile travel solutions

The integration of Goodyear and Cooper is expected to bring the following benefits: Consolidate Goodyear's leading position in the global tire industry
.

The acquisition will further strengthen Goodyear's leading position in the US market, while significantly enhancing its position in other markets in North America

The merger will also bring significant short-term and long-term financial benefits: synergies and tax advantages
.

In the next two years, Goodyear is expected to achieve approximately $165 million in revenue cost synergy, mainly from the streamlining of corporate functions and the improvement of operational efficiency

Create more value in manufacturing and distribution
.

Some Cooper plants are expected to expand production capacity, thereby improving capital efficiency and flexibility

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