Cooper reacts to growing tire demand
Cooper Tire & Rubber Co. is exploring opportunities to add production capacity at its U.S. plants in response to increasing tire demand, Cooper Chairman, CEO and President Roy Armes said earlier today.
The company hopes to achieve those ramp-ups without adding onto the plants' physical properties, he added.
All three of Cooper's U.S. factories are running "at very high utilization rates." Cooper's total daily production capacity in the U.S. is 95,000 passenger and light truck tires, according to Modern Tire Dealer research. (All of the firm's medium truck tires are manufactured in China.)
Shipments of Cooper's light vehicle tires increased 25% during the second quarter of 2010.
The company published its 2Q results earlier today. For a full summary, click here.
"I believe we can outperform the industry" as the year continues, said Armes. "Right now we're doing everything we can to get our capacity up, so that doesn't become a constraint for us."