Cooper Tire &Rubber Company Finalizes Acquisition of Siebe Automotive.Business Editors &Automotive Writers FINDLAY, Ohio--(BUSINESS WIRE)--Jan. 28, 2000 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 completed the previously announced acquisition of the automotive fluid handling division of Invensys plc., commonly known as Siebe Automotive for a purchase price of $244.5 million, which was financed using the Company's existing short-term borrowing arrangements. Commenting on the merger, Thomas Dattilo, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , said, &uot;We are excited to add Siebe Automotive to our organization. The integration of Siebe with Cooper hose allows us to provide complete fluid systems to our customers.&uot; 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. Products for Cooper's tire group include automobile, motorcycle and truck tires, inner tubes, tread rubber and retreading equipment. 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 24,000 employees and 71 manufacturing facilities in thirteen countries. For more information, visit the company's web site at: www.coopertire.com. |
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