Ludwig: Bold moves equal brand awareness for Cooper
Saul Ludwig, a managing director with KeyBanc Capital Markets, a division of McDonald Investments Inc., believes bold moves by Cooper Tire & Rubber Co. will pay off in 2004 and beyond.
In the "Ludwig Report" in the May issue of Modern Tire Dealer, Ludwig analyzes recent moves by Cooper.
"Armed with orders for five million additional tires for 2004 (on a base of about 40 million), Cooper Tire will probably move to the number three position in U.S. replacement market share this year behind Goodyear Tire & Rubber Co. and Michelin North America Inc.
"By deciding to sell its automotive parts business, Cooper will increase its investment in its tire operations. The company will make a strong move to build brand awareness as it makes its move into high performance tires.
"As I see it, the value proposition of the Cooper brand will increase in the future."