Neeraj Kanwar, chairman of India’s Apollo Tire , said that the company’s acquisition of Cooper tires in the United States will not shut down the plant and may further expand the current two companies’ global production operations.
“After the transaction is completed, we will immediately integrate the business of the two companies. Further details are still being worked out,†Neeraj Kanwar said in an interview a few days ago: “We don’t intend to close any production facilities globally, but from the long-term. Look at me also considering expanding the existing factory."
Cooper Tire has a factory in Melksham, UK. Local media have recently speculated that Cooper Tire will close the plant after it is acquired. Neeraj Kanwar also responded to this by saying that the Melksham plant will bring great value to the overall business. Apollo tires will not terminate the company's business after the acquisition of Cooper tires.
As early as this month, Apollo Tire announced that it will spend 2.5 billion U.S. dollars to buy Cooper tires. Cooper Tire CEO Roy Armes announced to the public that this acquisition will not be installed on Cooper Tire in the United States. The factory has an impact. In addition, Apollo tires and Cooper tires rarely overlap in global operations, and the merger of the two companies will facilitate growth in the United States, China, and Africa.
Neeraj Kanwar stated that after the completion of the M&A transaction, the two companies' respective factories will continue to put into operation the existing product series, and the plant's business will not change in the short term.
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