The Car and Truck Fleet and Leasing Management Magazine

Cooper Might Sell its Stake in Kumho

May 7, 2007

FINDLAY, OHIO – Cooper Tire & Rubber Co. may sell its 11-percent stake in Kumho Tire Co. Inc. early next year, Cooper officials revealed on May 2.“We had an agreement (with Kumho) until February 2008” that included a sell option, Roger Hendrikson, Cooper’s director of investor relations, told moderntiredealer.com. “It appears we will exercise that option.”Cooper acquired 11 percent of Kumho’s common equity in spring 2005.“We made a sizable investment in Kumho. The idea was to have opportunities to explore strategic initiatives with Kumho. We really haven’t made (those explorations),” Hendrikson said, according to moderntiredealer.com.
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