FINDLAY, Ohio (July 3, 2001) —Cooper Tire & Rubber Co. has finalized its purchase of certain assets of Hercules Tire & Rubber Co.'s retread operations.
Cooper acquired Hercules' retread assets for less than $8.5 million and said it will use them to foster growth of its tread rubber and radial medium truck tires.
More than 200 former Hercules retread customers will now have access to tread rubber products through the Oliver Retreading Systems and Products unit, which is a part of Cooper´s new commercial division.
“We are making a pledge to Hercules' dealers that we will provide a consistent, high-quality supply of products so they will continue their operations during our transition,” said Larry Enders, Cooper Commercial Division President. “We are happy to say that we are ready to immediately begin shipping products to our new customers and providing the same level of excellent service that all of our retread dealers have come to expect from Oliver.”
Cooper services Oliver retread dealers from three U.S. distribution points: Asheboro, N.C., Salt Lake City and Tupelo, Miss.