Goodyear Tire & Rubber Company has completed its purchase of Cooper Tire & Rubber Company, finalizing the $2.5 billion deal made public on February 22nd.
Cooper Tire, in a news release, said the combination unites two leading tire companies with complementary product portfolios, services and capabilities to create a stronger U.S.-based leader in the global tire industry.
The combined company will offer more options across the value spectrum making it easier for customers and consumers to choose Goodyear and Cooper-branded tires.
“We are excited to officially bring Goodyear and Cooper together and unite our shared focus on customers, innovation and high-quality products and solutions,” said Richard J. Kramer, Goodyear chairman, chief executive officer and president.
“This combination strengthens Goodyear’s ability to serve more consumers globally and provides increased scale to support greater investments in new mobility and fleet solutions.”
Findlay-Hancock County Economic Development Director Tim Mayle tells WFIN that he and Findlay Mayor Christina Muryn had a good meeting with Goodyear.
“They were talking about, not only the strength of the manufacturing plant, but how do they get involved in the community.”
Mayle believes Goodyear will be a good corporate partner and continue to invest in the Findlay plant.
He doesn’t expect any job losses with the manufacturing operation in Findlay.
And while the combined company will be headquartered in Akron, he said Goodyear is committed to maintaining an office presence in Findlay.
It’s unclear how many Findlay office jobs will be affected.