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Cooper Tire sold to Apollo Tyres

Cooper Tire sold to Apollo Tyres

Posted: Updated:
TEXARKANA, Ark. -

Apollo Tyres has purchased Cooper Tire and Rubber Company including the Texarkana plant for $2.5 billion dollars in cash.  

The Texarkana plant currently has about 1,800 employees and has an estimated $200 million dollar annual economic impact on the region.
    
City officals believe the India-based company will honor the union bargaining contract.
    
They say no administration changes are expected.

"We're cautiously optimistic that nothing will change that our Copper Tire family will remain here," said Mayor Smith. "The Apollo Tyre company will become part of Texarkana."

The close of the transaction is expected to take place later this year.

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