Cooper might sell its stake in Kumho

Cooper Tire & Rubber Co. may sell its 11% stake in Kumho Tire Co. Inc. early next year, Cooper officials revealed earlier today, May 2.

"We had an agreement (with Kumho) until February 2008" that included a sell option, Roger Hendrikson, Cooper's director of investor relations, told moderntiredealer.com. "It appears we will exercise that option."

Cooper acquired 11% of Kumho's common equity in spring 2005.

"We made a sizable investment in Kumho. The idea was to have opportunities to explore strategic initiatives with Kumho. We really haven't made (those explorations)."