Cooper Announces New Business Awards.FINDLAY, Ohio--(BUSINESS WIRE)--Nov. 4, 1999-- COOPER TIRE & RUBBER COMPANY (NYSE NYSE See: New York Stock Exchange :CTB CTB Council Tax Benefit (UK) CTB Coopération Technique Belge (French: Belgian Technical Cooperation) CTB Commonwealth Transportation Board (Virginia Department of Transportation) ) today announced its Cooper-Standard Automotive group has received in excess of $200 million annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. of new business awards during the past several months for the 2001-2003 model-year vehicles. These programs include platforms for: General Motors, Daimler-Chrysler, Ford Europe Ford Europe is the European division of the Ford Motor Company that is based in America. It was founded in 1967 on a merger between the British and German divisions of the company. and Volkswagen. GM Truck has awarded Cooper-Standard the total vehicle sealing system for its new GMT-355 line of light trucks for model year 2003. Cooper-Standard will coordinate worldwide development of the complete sealing systems for the new trucks which are slated for production in the U.S., Brazil and Thailand. Isuzu Motor Car Company, will jointly develop the vehicle with General Motors Truck for the Asian market. A key to the GM Truck award was Cooper-Standard's ability to offer true global product development and production for the new model. To provide Japanese-based vehicle-engineering support to Isuzu, Cooper-Standard will work with its partner of more than 30 years, Nishikawa Rubber Company, Ltd., Hiroshima, Japan. Cooper-Standard and Nishikawa will provide production from Cooper-Standard's existing facilities in the U.S. and Brazil and from Nishikawa's factory in Thailand. GM also has awarded Cooper-Standard the total sealing systems for the 2003 Corvette corvette, small warship, classed between a frigate and a sloop-of-war. Corvettes usually were flush-decked and carried fewer than 28 guns. They were widely employed in escorting convoys and attacking merchant ships during the great naval wars of the late 18th and and Cadillac EVOQ The Cadillac Evoq was a concept car created by Cadillac and unveiled at the 1999 Detroit Auto Show. The design led to the production of the XLR. A project begun under then General Manager of Cadillac, John Smith. . Daimler-Chrysler awarded Cooper-Standard sealing business for the Neon, P.T. Cruiser and Jeep SJ Jeep's SJ platform was part of the "FSJ" or full-size Jeep lineup. According to the International Full Size Jeep Association, an "FSJ" is any vehicle produced in North America, carrying the "Jeep" nameplate, with 2 or 4 doors, in rear or four wheel drive, whose wheelbase does not . Ford Europe awarded Cooper-Standard the total weather strip sealing systems for its B-car, the replacement for Ford's Fiesta and Ka small-car models. In addition, Cooper-Standard has earned business for the Volkswagen Polo The Volkswagen Polo is a supermini manufactured by Volkswagen of Germany. It is sold mainly in Europe, but available in most export markets. It is most widely seen as a hatchback but there have also been saloon and so-called coupé and estate variants. . According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Rod Millhof who recently was named president of Cooper-Standard's global sealing division, this new sealing business is a visible result of Cooper-Standard's global capabilities. "Our resources in technical innovation and global manufacturing capabilities will allow us to supply automotive customers throughout the world. As one of the top global sealing suppliers we are excited about the continued global opportunities in vehicle sealing and look forward to new efforts for our global customers." Company Description Cooper Tire & Rubber Company is headquartered in Findlay, Ohio Findlay is a city in the U.S. state of Ohio and the county seat of Hancock CountyGR6. The municipality is located in northwestern Ohio approximately 50 miles (80 km) south of Toledo. The population was 38,967 at the 2000 census. and specializes in the manufacture and marketing of rubber and plastic products for consumers. Products for Cooper's tire group include automobile, motorcycle and truck tires, inner tubes, tread rubber and equipment for the replacement market. In the automotive group, Cooper is an original equipment supplier of sealing, trim, vibration control and hose systems for the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. in North America, Europe and South America. Other products for this group include rubber and plastic sealing components for the refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. industry in North America. Cooper has more than 20,000 employees and 50 manufacturing facilities in nine countries. For more information, visit the company's web site at: www.coopertire.com. Forward-Looking Statements This report contains forward-looking statements regarding expectations for future financial performance which involve uncertainty and risk. It is possible the company's future financial performance may differ from expectations due to a variety of factors including, but not limited to: changes in economic and business conditions in the world, increased competitive activity, achieving sales levels to fulfill revenue expectations, consolidation among its competitors and customers, technology advancements, unexpected costs and charges, fluctuations in raw material and energy prices, changes in interest and foreign exchange rates, regulatory and other approvals, the cyclical nature of the automotive industry, risks associated with integrating the operations of The Standard Products Company and the failure to achieve synergies or savings anticipated in the merger, and other unanticipated events and conditions. It is not possible to foresee or identify all such factors. Any forward-looking statements in this report are based on certain assumptions and analyses made by the company in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Prospective investors are cautioned that any such statements are not a guarantee of future performance and actual results or developments may differ materially from those projected. The company makes no commitment to update any forward-looking statement included herein, or to disclose any facts, events or circumstances that may affect the accuracy of any forward-looking statement. |
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