Cooper Tire holds annual meeting; declares regular quarterly dividend.FINDLAY Findlay (fĭn`lē, fĭnd`lē), city (1990 pop. 35,703), seat of Hancock co., NW Ohio, on the Blanchard River; inc. 1887. Petroleum products, tires, washing machines, heavy machinery, and plastic goods are among its many manufactures. , Ohio--(BUSINESS WIRE)--May 7, 1996--Sound operations and a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. financial position were emphasized in reports by officers at the annual meeting of Cooper Tire & Rubber Company stockholders, May 7. Reports by the executives indicated that good levels of production are being maintained to meet current market demands for both tires and engineered rubber products, and shipments were up during the first quarter of 1996. New products are being introduced. The reports also indicated that the company has a well founded strategy for continued growth in all areas of its operations. The company stated it plans to make capital investments of approximately $180 million in 1996 for incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. expansions, productivity improvements and manufacturing efficiency projects. It was further reported that the financial strength and competitive positioning of the company is good although, currently, high raw material costs and an intensely competitive market are pressuring operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: . The company, however, has obtained new accounts and is developing new opportunities in both the domestic and international markets for tires and engineered products. The successes of the company were credited to an outstanding Cooper team, which is dedicated to excellence in a highly competitive industry. The company believes that its position as a low-cost manufacturer and its spirit of customer service will provide further opportunity for growth and building an even stronger company in the future. At the meeting stockholders re-elected Edsel Edsel much bruited automobile fails on market (1950s). [Am. Hist.: Flexner, 78] See : Failure D. Dunford, John Fahl, and Dennis J. Gormley to the board for terms expiring ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. in 1999. Stockholders also elected Deborah M. Fretz, senior vice president, logistics, of Sun Company, Inc., to the board for a term also expiring in 1999. The board of directors of Cooper Tire & Rubber Company declared a quarterly dividend of 7.5 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. on common stock, payable June 30, 1996 to stockholders of record June 3, 1996. CONTACT: Cooper Tire & Rubber Co., Findlay J. Alec Reinhardt, 419/423-1321 |
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