Cooper Tire & Rubber Co., Ltd. Increases the Shareholding of Cooper Chengshan (Shandong) Tire Co., Ltd.

October 11, 2023

Cooper Tire & Rubber Company (NYSE: CTB) today issued a statement: With the approval of the Chinese government, its shareholding in Cooper Chengshan (Shandong) Tire Co., Ltd. will increase from the original 51% to 65%. Cooper Tire will pay a portion of its shareholding amount in the near future, and the market value of this portion of the shares will be nearly 18 million US dollars. Delivery is expected to be completed by the end of March.

Mr. Allen Tsaur, President of Cooper Tire Asia Pacific, said: “Cupelo Chengshan (Shandong) Tire Co., Ltd. is one of the important strategic components of Cooper Tire. Its development has been very good. We are very happy to increase our shareholding. Cobalt Chengshan shares."

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