FINDLAY, Ohio (Nov. 23, 2015) — Cooper Tire & Rubber Co. and Argentina's Fate S.a.i.c. have agreed to work together, with Fate planning to distribute Cooper-branded consumer tires in Argentina starting immediately.
“Cooper is pleased to align with Fate, a highly respected and quality-focused tire company with extensive reach in Argentina and throughout South America, as we continue to move forward with our strategic plan to grow our business in Latin America,” said Cooper Chief Operating Officer Brad Hughes.
The two companies also may work together on a variety of potential cooperative ventures, including tire production, offtake arrangements, and possible cooperation on research and development activities.
Among other products, Fate produces radial passenger, light truck, SUV and truck and bus tires at its plant in San Fernando, Argentina, where it has capacity for about 5 million tires per year. With fiscal 2014 sales of $327 million, Fate was ranked 58th worldwide on the 2015 Tire Business Top 75 Tire Makers' list.