Cooper Tire & Rubber Company Forms Joint Venture With Saiyang Sealing Products Company of China

NOVI, Mich., July 27 -- Cooper Tire & Rubber Company's operating group, Cooper-Standard Automotive, has formed a joint venture company with Saiyang Sealing Products Company of China for the manufacture and sales of automobile sealing systems under the name Cooper Saiyang Wuhu Automotive.

The joint venture facility is located in the Wuhu Economic Development Zone, southeast of Nanjing. The plant has complete rubber mixing capabilities as well as four extrusion lines to produce rubber, rubber/plastic or plastic sealing extrusions. The joint venture will manufacture sealing components for the C307 program for Changan Ford. Cooper Saiyang also has acquired new sealing business with SAIC Chery Automobile Co. Ltd., one of China's fastest growing automotive OEMs.

Cooper-Standard Automotive will provide advanced sealing technical and operational knowledge to the new joint venture as well as expertise in the manufacture of sealing systems. Cooper-Standard also will assist with sales and marketing of the joint venture company's products.

Saiyang Sealing Products brings their knowledge of the Chinese domestic market and business development to the new joint venture. Their position as the fifth largest sealing supplier in China and their strong relationships with automotive OEMs in the market also will be instrumental in the ongoing development of the business.

"This joint venture agreement is a key element of our Asian strategy," commented Jim McElya, president of Cooper-Standard Automotive. "We are now positioned to grow our business in Asia to better serve the needs of our global OEM customers. The opportunities in China are enormous. With over 1,000 new vehicles each day on the streets of Beijing and the high demand for new vehicles in the country, we are excited about our prospects in the Chinese market."

Company Description

Cooper Tire & Rubber Company, headquartered in Findlay, Ohio, specializes in the manufacture and marketing of products for the global automotive industry. Products include automotive, motorcycle and truck tires, inner tubes, tread rubber and equipment, as well as sealing, trim, NVH control systems and fluid handling systems. Cooper has more than 20,000 employees and 52 manufacturing facilities in 13 countries. For more information, visit the Company's web site at: http://www.coopertireandrubber.com/ .