Cooper Tire has started a construction project at its Kruševac tyre manufacturing plant in Serbia, which will increase production capacity.
With a strategic manufacturing footprint investment of approximately $55m in equipment upgrades and facility expansion, the project will increase the size of the Kruševac facility to more than 882,000 square feet.
In addition, the company plans to add 118 new jobs. The project is supported by approximately $8m in incentives provided by the Serbian government.
With this investment Cooper says it will be able to produce new, larger diameter tyres being demanded in Europe and other global markets. Total annual production capacity at the Kruševac plant will increase by approximately one-third at completion of this expansion, which is expected later this year, and will establish a footprint which could further double capacity with additional equipment and people.
Brad Hughes, Cooper president and CEO says: “Cooper Tire Serbia is substantially increasing tyre production capacity at our Kruševac site, which is a key facility within Cooper’s global manufacturing network, supplying high quality tyres to Europe and other global markets.
“This project will enable the facility to manufacture light truck tyres, including 4×4 tyres, and large diameter tyres up to 22 inches in addition to the passenger car and SUV tyres it currently produces.”
Cooper acquired the assets of the Kruševac plant in 2012 and has continued to invest in upgrades and expansion projects at the site.
For more information on Cooper Tires contact Daly Tyres on 069 648 99 or visit http://www.dalytyres.com.