Cooper reviewing financial incentive plans for 4 plants

Tire Business staff report©

FINDLAY, Ohio (Dec. 2, 2008) - Cooper Tire & Rubber Co. is reviewing the financial incentive packages four local governments have offered the company in an effort to help reduce the cost structure at its tire plants in Findlay; Tupelo, Miss.; Texarkana, Ark.; and Albany, Ga..

Cooper officials have recently spoken with government leaders from all four states and will now review the proposals as part of a plant capacity analysis report. “There has been an enormous amount of cooperation (with the local governments). They are willing to work with us,” said Pat Brown, vice president of global branding & communication for the tire maker..

In October Cooper announced that it might close one of its four U.S. factories after evaluating the operational costs of each..

The company said it expects to announce a decision on plans for those plants by Jan. 19. A plant closure is an option, according to Ms. Brown..

For now, the Findlay-based tire maker has asked the government entities to cooperate with a “quiet period” by not discussing details of the financial incentive plans while the company reviews them

From Tire Business (A Crain publication)