FINDLAY, Ohio (June 19, 2013) — Cooper Tire & Rubber Co. is reviving work on a $35.5 million Global Technical Center (GTC) at its headquarters in Findlay, which it now hopes to have open by year-end.
Cooper announced the project originally in February 2013 saying at that time the development was contingent on receiving $2.8 million in funding from the State of Ohio’s Third Frontier program.
Adding the GTC in Findlay would create up to 40 openings for specialized engineers and scientists, Cooper said.
The tire maker will hold a ceremony on Monday, June 23 to mark the occasion. Roy Armes, Cooper CEO and president, Chuck Yurkovish, vice president, global research and development, and David Mustine, senior managing director, JobsOhio, are scheduled to speak.
Cooper said in early 2013 the GTC would occupy an unused floor of the tire maker’s North American tech center in Findlay.
The revival of the GTC project comes just days after Cooper opened a $23 million Asia Technical Center at the site of its Cooper (Kunshan) Tire Co. Ltd. venture in Kunshan, China.
The tire maker spends about 1.5 percent of its annual revenue on R&D, according to its financial statements.
How have tire prices been in the last few months?
|They've gone up 1-5%||
|They've increased 6-10%||
|They've stayed flat||
|They've gone down between 1 and 5%||
|They've gone down 6-10%||
|They've dropped more than 10%||