ERJ staff report (TB)
Texarkana, Arkansas — Cooper Tire & Rubber Co. will close its Albany, Georgia, tyre plant following a capacity study of its US plants.
Cooper said the decision will affect its net profit by about $150 million to $175 million in restructuring charges. Annual savings are estimated at $75 million to $80 million. The facility, which employs about 1400, will close over the next 12 months, the firm said.
Cooper said it will realign the mix of products from Albany to its remaining three plants…