FINDLAY, Ohio (Nov. 4, 2004) — Cooper Tire & Rubber Co. said it will appeal an Indiana federal judge's order to block the $1.17 billion sale of Cooper's Cooper-Standard Automotive Division to the New York-based Cypress Group.
Judge Theresa Springmann of the U.S. District Court for the Northern District of Indiana agreed with the United Steelworkers of America (USWA) that the sale should not proceed until the union negotiates with the buyers.
In a press release, Cooper Chairman, President and CEO Thomas A. Dattilo said the company took care in the sale agreement to protect employees and maintain all existing contractual agreements. USWA officials couldn't immediately be reached for comment.