Cooper Tire reports double-digit decline in operating income

Findlay, Ohio – Cooper Tire & Rubber Co. suffered a 46.6% drop in fiscal 2018 operating income on 1.6% lower sales, the company announced 19 Feb.

Operating income fell to $165.2 million (€145 million) on sales of $2.81 billion, cutting the operating ratio five full points to 5.9%.

The drop in operating income included a $34 million goodwill impairment charge associated with the company’s proposed joint-venture truck-and- bus tire plant in Vietnam.

Cooper said the capacity created by the planned facility would reduce expected production requirements for Cooper’s…

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