Cooper buys Teknor Apex assets
Cooper Tire & Rubber Co. has acquired certain assets of Teknor Apex's retread business for an undisclosed sum.
The purchase does not include any facilities, according to Cooper officials.
"Cooper will use existing resources to supply additional customers."
Teknor Apex, headquartered in Pawtucket, R.I., manufactures and markets tire repair materials, tread rubber and retreading systems.
Cooper says the purchase will boost sales in its Oliver Retreading Systems and Products unit, which is part of the Findlay, Ohio-based tiremaker's Commercial Products Division.
The acquisition "will enhance the reach of our tread rubber network," says Larry Enders, Cooper Commercial Products Division president.
"We believe independent commercial servicing dealers need and want a competitive alternative to the franchises and packaged pricing programs."
Teknor Apex's field staff will join Cooper's commercial products team, say Cooper officials.
Last year, Cooper purchased Hercules Tire & Rubber Co.'s tread rubber business.