The Goodyear Tire & Rubber Company has completed its acquisition of Cooper Tire & Rubber Company, finalising the merger agreement made public in February.
“We are excited to officially bring Goodyear and Cooper together and unite our shared focus on customers, innovation and high-quality products and solutions. This combination strengthens Goodyear’s ability to serve more consumers globally and provides increased scale to support greater investments in new mobility and fleet solutions,” says Richard J. Kramer, Goodyear chairman, chief executive officer and president.
Goodyear says the acquisition of Cooper is expected to strengthen its position in the global tyre industry. It hopes the merger will offer more options across the value spectrum making it easier for customers and consumers to choose Goodyear and Cooper branded tyres.
“The combined company will have the opportunity to leverage the strength of Goodyear original equipment and premium replacement tyres, along with the mid-tier power of the Cooper brand, which has particular strength in the light truck and SUV segments,” Goodyear says.
It adds that the combined company will offer tyre products and a broad selection of services through Goodyear’s relationships with traditional and emerging original equipment manufacturers; autonomous driving system developers; new and established fleet operators; and other mobility platforms.