Cooper Tire & Rubber Company
| File:Cooper Tire logo.svg Cooper Tire logo | |
| Company type | Subsidiary |
|---|---|
| Industry | Tire manufacturing |
| Founded | 1914 in Akron, Ohio, United States |
| Founder | John F. Schaefer and Claude E. Hart |
| Headquarters | Findlay, Ohio , United States |
Area served | Worldwide |
Key people | Bradley E. Hughes (President and CEO) |
| Products | Replacement automobile and truck tires, motorcycle tires, racing tires |
Number of employees | 10,540 (2016) |
| Parent | Goodyear Tire and Rubber Company |
| Website | www |
Cooper Tire & Rubber Company is a U.S.-based enterprise engaged in the development, production, promotion, and distribution of replacement automobile and truck tires. Its affiliated companies concentrate on tires for medium-duty trucks, motorcycles, and racing vehicles. With its headquarters situated in Findlay, Ohio, Cooper Tire manages 60 facilities worldwide encompassing manufacturing, sales, distribution, engineering, and design operations. Among these is the UK-origin Avon Tyres brand, recognized for its motorcycle and race car tires. Established in 1914 by John F. Schaefer and Claude E. Hart as M and M Manufacturing Company in Akron, Ohio, Cooper Tire was publicly listed on the New York Stock Exchange from 1960 until its acquisition by Goodyear Tire and Rubber Company in June 2021. The company’s motto is "The tire with two names ... the company and the man who built it."
Early history
The roots of Cooper Tire date back to 1914 when John F. Schaefer and Claude E. Hart founded M and M Manufacturing Company. Initially, the firm produced tire patches and repair kits before acquiring The Giant Tire & Rubber Company in 1920 and moving its operations to Findlay, Ohio in 1922. The Cooper brand originated in 1919 when I. J. Cooper, an auto-parts dealer from Cincinnati, launched Cooper Corporation to manufacture new tires. In 1930, a merger occurred between Cooper Corporation, M and M Company, and Falls Rubber Company forming Master Tire and Rubber Company; this entity was later renamed Cooper Tire & Rubber Company in 1946.
The iconic Cooper oval logo featuring the Cooper Knight helmet was first registered in 1941, becoming a well-known symbol within the industry representing the brand’s innovative "armored-cord" tire technology.
During World War II, Master Tire and Rubber expanded its production capabilities to supply Allied forces with various wartime materials including pontoons, landing crafts, waterproof apparel, inflatable barges, life vests, tank decoys alongside tires. This significant contribution earned the company the distinguished Army-Navy ‘E’ Award for excellence in 1945. Soon after the war ended, the firm adopted its present name to concentrate on tire manufacturing and international expansion.
Public company
Between 1946 and 1982, leadership of Cooper Tire was maintained by the Brewer family—W.B. Brewer along with his sons Wayne, Edward, and Robert (Vice President). W.B. Brewer was instrumental in taking the company public; on July 11, 1960, Cooper Tire debuted on the New York Stock Exchange under the symbol "CTB," where "B" stood for Brewer. The Brewers prioritized direct management involvement and fostered strong employee dedication. Under their guidance, Cooper Tire experienced significant growth and became part of the Fortune 500 by 1983 as one of America’s leading industrial corporations.
Acquisition by Goodyear
On February 22, 2021, Goodyear Tire and Rubber Company revealed plans to acquire Cooper Tire for roughly $2.8 billion through cash and stock transactions. The acquisition was finalized in June 2021 with Cooper shareholders obtaining approximately a 16% stake in the merged entity, enhancing Goodyear’s position within the global tire market.
Foreign manufacturing plants and acquisitions
In 1997, Cooper expanded its operations by acquiring Avon Tyres Ltd. based in Melksham, England.
The most significant expansion occurred in 1999 when Cooper purchased Standard Products Company, which brought an additional 10,000 employees and extended Cooper’s reach into automotive sealing, plastic trim, and vibration-control product lines. This acquisition also included Oliver Rubber Company, specializing in truck retread products, and Holm Industries, a manufacturer of refrigeration seals.
In December 2003, Cooper entered a joint venture with Kenda Rubber Industrial Company to establish a tire manufacturing facility near Shanghai. By January 2005, Cooper had acquired an 11% equity interest in South Korea’s Kumho Tires and concurrently launched a commercial division that combined Oliver Rubber with its commercial tire operations.
By October 2005, Cooper secured a majority stake (51%) in Cooper Chengshan (Shandong), the third-largest tire producer in China, focusing on both local and export markets. Production commenced in eastern China in 2007 through collaboration with Taiwan-based Kenda Rubber. Presently, China represents approximately one-quarter of Cooper’s worldwide sales.
In 2007, Cooper divested Oliver Rubber Company to Michelin for $69 million.
December 2011 saw Cooper acquiring assets from Serbia’s Trayal Corporation via Brikel EAD for $13 million and committing up to $50 million to develop Cooper Tire & Rubber Company Serbia d.o.o., which by 2016 employed roughly 740 individuals and generated $76 million in revenue.
Apollo Tyres announced plans to acquire Cooper Tires for $2.5 billion in June 2013; however, the transaction was terminated by the end of that year due to unresolved control issues over Chinese operations and labor unrest at the Chinese manufacturing plant.
In June 2020, Cooper revealed intentions to open a new regional distribution hub in Whiteland, Indiana. This facility would replace the existing Franklin center and increase product storage capacity starting early 2021.
Cooper Tires
Under the Cooper brand, the company manufactures tires designed for passenger vehicles, light trucks, SUVs, and commercial trucks.
Avon Rubber PLC
Cooper’s acquisition of Avon Rubber’s tire division in Melksham, UK, in 1997 established its European headquarters there. By 2018, general manufacturing operations had shifted to Serbia with Avon focusing on motorsport and motorcycle tires. In October 2022, Cooper announced the planned closure of the Melksham plant by the end of 2023, affecting approximately 350 jobs.
Other brands
Cooper produces tires under several other brand names including Dean, Mastercraft, Mickey Thompson, Roadmaster, and Starfire. It formerly manufactured Sears Guardsman tires and currently supplies Arizonian tires for Discount Tire Company as well as Futura Tires for Pep Boys. Hercules-branded tires are produced at the Findlay, Ohio facility. Cooper’s products are widely distributed through retailers such as Tire Discounters, Pep Boys, and Discount Tire.
Motorsports and sponsorships
Cooper served as the official tire provider for the A1 Grand Prix series from 2005 until 2008. Avon Tyres had been supplying tires to the British Formula Three Championship since 1982; following its rebranding to Cooper in 2009, it became the title sponsor through at least 2014. Additionally, Avon was the exclusive tire supplier for the FIA Formula Two Championship between 2009 and 2012.
In 2010, Cooper/Avon Tyres bid to supply tires for the 2011 Formula One season but ultimately lost out to Pirelli. Within the United States market, Cooper became the official tire supplier for the Champ Car Atlantic Championship in 2007 and later for IMSA Prototype Lites starting in 2010. The company supports the Mazda Road to Indy development ladder series: USF2000 since 2010, Pro Mazda from 2013 onward, and Indy Lights beginning in 2014.
Since 2014, Cooper has been the exclusive tire supplier for the FIA World Rallycross Championship and also supplies tires for the Americas Rallycross Championship. In July 2017, Avon Tyres became the primary kit sponsor for Derby County Football Club. During the COVID-19 pandemic in 2020, Cooper adapted its Road to Indy series by transitioning to virtual racing through iRacing platforms.
Management and Company Personnel
According to the 2016 annual report, Cooper has a workforce of 10,540 employees. Bradley E. Hughes holds the positions of president and CEO, guiding the company with strategic direction aimed at expanding business operations and increasing market presence.