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Cooper Tire & Rubber Company is a leading manufacturer of replacement tires. It is the fourth largest tire manufacturer in North America and, according to a recognized trade source, is the eighth largest tire company in the world based on sales.
In developing its business in China, Cooper Tire came to China in 2004 and has made hundreds of million dollar capital investment, including plant, equipment, land and human resources. The business scope of Cooper Tire & Rubber Company is producing, providing technical support and trading of tire and rubber in China. More than 10 years after Goodyear entered China in 1994 and Michelin in 1989, US-based Cooper does not view itself as a latecomer to an already highly competitive market. "We see a lot of opportunities here in China. It is just the time. We don"t think we are late for this huge market. By establishing our Asia-Pacific headquarters in Shanghai, we are showing our strong confidence in the Asia market, especially China. This country has been our most important market in the region, and I believe it will soon become one of our key markets globally. We have great respect and high expectations for China." says Tom Dattilo, chairman, president and chief executive officer (CEO) of Cooper Tire.
Cooper Tire is going to pour hundreds of millions of US dollars into China over the next five years. Statistics from the China Petroleum and Chemical Industry Association shows that China"s tire annual output hits more than 300 million units. This is the best performance the tire industry has seen in 10 years, with sales revenues of more than 79 billion yuan (US$9.8 billion).