Two Major OH Companies Join Forces

Two of the biggest remaining American tire companies are joining forces. Goodyear Tire & Rubber is acquiring Cooper…in a deal with an equity value of $2.8 billion dollars that will combine the two century-old Ohio manufacturers. Cooper, founded in 1914, is the 5th largest tire maker in North America, based on revenue. The company has about 10,000 employees in 15 countries. In addition to the Cooper brand, it also owns Mastercraft, Roadmaster and Mickey Thompson. For Goodyear, the bigger company, the deal will nearly double its presence in China. Cooper will get access to Goodyear’s 2,500 retail locations. The companies had combined sales of $19.5 billion dollars in 2019. By combining, officials say the new company will save about $165 million dollars…within two years.

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