Cooper Tire Global Sales Continue to Strengthen in the Second Quarter, Asian Business Growth 24%
In the second quarter of 2010, Cooper Tire & Rubber's net sales increased by 27% year-on-year, from US$632 million in the same period in 2009 to US$804 million, and its operating profit reached US$34 million. Among them, the Asian tire business net sales increased by 24% year-on-year. The rapidly growing Chinese market has become an important growth point for Cooper's Asian operations.
In April 2006, Cooper Tire & Rubber Corporation officially announced its entry into China and the establishment of its Asia Pacific regional headquarters in Shanghai. In June 2008, Cooper Tire Asia Pacific Technology Center was established in Shanghai to support the development and testing of the Chinese market and export overseas products. At present, Cooper Tire has a total of two joint ventures in China, namely Cooper Chengshan (Shandong) Tire Co., Ltd. and Cooper BJD (Kunshan) Tire Co., Ltd. After nearly five years of development, Cooper has more than 500 retail stores in China and maintains an annual growth of about 20%.
Alex Koi, general manager of Cooper Tire China, said: In the situation where tire raw material prices are rising and cost pressures are increasing, Cooper takes the lead in putting forward the concept of “cost innovation†in the industry. Reduce energy consumption in production lines while improving production quality. It is reported that the efficiency of the Cooper Shandong production line has increased by 40%, and the scrap rate has dropped below 3%. In the current market environment where the product continues to grow rapidly, Cooper tires, a global tire replacement specialist, adhere to the concept of technological innovation and product excellence to continuously satisfy consumers' demands for high-quality tires and services.
About Cooper
Cooper Tires, one of the world's top ten tire brands, is a strong leader in the global replacement tire market and is currently the second largest listed tire company in North America. Cooper's manufacturing and technology bases are located in three continents in North America, Europe and Asia. Its products cover the multi-stage tire market, from family cars to luxury sports cars, from off-road vehicles to large trucks, from power cycles to super-motorcycles, and to extreme environments. Special tires and racing tires.
In April 2006, Cooper Tire officially entered China and established Cooper Asia Pacific headquarters in Shanghai. In terms of car tires, Cooper Tire expanded its tire market share with brand strategies at different levels and launched Cooper and Starfield, two brands that meet different customer needs. In terms of truck tires and tires, Chengshan Tire has inherited the experience and advantages of R&D and manufacturing of truck and bus tires. Cooper owns a number of card and passenger car brands targeting different market segments, including American professional passenger car tires developed specifically for Chinese road conditions. Dean Tire and so on.
In May 2008, Cooper Tire established the Asia Pacific Technology Center in Shanghai, which is the third largest research and development center for Cooper following US headquarters and Europe. The R&D work for users in the Asia Pacific region, especially in China, will be the Asia-Pacific R&D center. Work focus. In November 2008, Cooper was awarded the "2008 Multinational Corporation China Contribution Award" for the 30th anniversary of reform and opening up. In the face of the financial crisis in the second half of 2008, Cooper responded positively and took the lead in putting forward the concept of “cost innovation†in the industry in order to cope with the current difficult market environment; striving to improve the quality of the products and the product layout from the intensive culture of the company itself. Consumer demand saves costs at the source.
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