Cooper Tire & Rubber Co. has finalized its purchase of the assets of a tire-making facility in Kruševac, Serbia.
(See "Cooper buys Serbian tire plant.")
Attending the formal signing ceremony were Serbian President Boris Tadić, Serbian Prime Minister Mirko Cvetković, U.S. Ambassador Mary Warlick and Cooper Chairman, CEO and President Roy Armes.
Armes said that Cooper elected to invest in Serbia not only because of its significant economic potential, but also for its quality workforce, geographical advantages and Serbian government support.
“In serving the world's fastest growing markets as well as the world's largest market, we have expanded our global footprint and ability to respond to evolving demands and customer needs," said Hal Miller, president of Cooper's International Tire Segment business unit. "This acquisition strengthens our presence in Europe and decidedly complements our existing worldwide operations.”