Cooper is on a roll, says CEO Armes
"We believe we can maintain the momentum we have established in the first half of 2007," says Cooper Tire & Rubber Co. CEO and President Roy Armes.
"There are always concerns or risks regarding raw material costs, which are at high levels and trending upward, as well as economic and industry effects, but we expect pricing in the market will continue to be rational."
Earlier this week, Cooper announced that it achieved net sales of $751 million during the second quarter, a record for the company and a $126 million increase over the second quarter of 2006.
In addition, the company's operating profit improved to $32 million in the second quarter of 2007 compared to an operating loss of $26 million in the second quarter of 2006.
"Additional opportunities for improvement exist for Cooper as we continue to improve operations in both North America and (our) International segment," says Armes.