Cooper reports losses in third quarter, nine months

Findlay, Ohio — Lower unit sales volume, high raw material costs and higher interest expense offset gains from price hikes in the third quarter, leading Cooper Tire & Rubber Co. to post a quarterly loss of $840,000.

Sales in the quarter ended Sept. 30 rose only 1.2 percent to $557.8 million. The net loss compares with a profit of $9.87 million for the year-ago period.

In the company’s North American Tire unit, sales rose 2 percent to $509.4 million. Cooper said the increase was driven by improved…

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