New Organizational Structure Announced
27 October 1999
New Organizational Structure Announced
FINDLAY, Ohio--Oct. 27, 1999--Cooper Tire & Rubber Company announced a new organizational structure resulting from the acquisition of The Standard Products Company by Cooper which was finalized earlier today.While the corporate name will continue to be Cooper Tire & Rubber Company and will be headquartered in Findlay, Ohio, the company's operations will be divided into two groups: Cooper-Standard Automotive and Cooper Tire. Both groups will be responsible to Thomas A. Dattilo, Cooper's President and Chief Operating Officer.
Cooper-Standard Automotive will be headquartered in Dearborn, Michigan. The President of this group will be announced at a later date. Cooper-Standard Automotive will contain the following divisions:
| -- | Global Sealing Division, with headquarters in Dearborn, Michigan, will be led by Rod Millhof, president, formerly head of Cooper's engineered products operation. Within this division, Frank Burnside, president, will lead North American Sealing, also located in Dearborn. Burnside was formerly general manager of Standard's Canadian operation. Brian Batey, president, will lead the European Sealing division in UK/France, the same position he held at Standard Products. The South American operations also will also report to Batey. NISCO, the joint venture with Nishikawa Rubber, will remain in Topeka, Indiana. The Jin Young Joint Venture will continue in Inchon, Korea. |
| -- | Vibration Control Division, led by Paul Gilbert, president, will be headquartered in Auburn, Indiana. Gilbert, formerly the vice president of operations for Cooper's engineered products, will also head the Hose Division which will continue to be headquartered in Auburn. |
| -- | Plastics Division, led by Ted McQuade, president, will be headquartered in Dearborn, Michigan. McQuade previously served as executive vice president of Standard's North American automotive operations. Within this division, McQuade also leads the Automotive Plastics group. Reporting to McQuade will be Steve Mack, who will continue to serve as president of the Holm Industries operation located in Scottsburg, Indiana. |
Cooper Tire will continue to be headquartered in Findlay, Ohio, and led by current president, John Fahl, who is also a member of Cooper's board of directors.
| -- | North American Tire Division will also be led by John Fahl from Findlay, Ohio. This division will include all North American tire operations and the international division which serves countries outside Western Europe. |
| -- | Oliver Rubber will be led by Larry Enders, president, and will be jointly managed from Findlay, Ohio, and Athens, Georgia. Enders has been president of Oliver since 1993. |
| -- | Cooper-Avon Tyres will continue to be led by Rod Pottow, vice president of European tire operations, and based in Melksham, England. |
In announcing this structure and resulting organization changes, Thomas A. Dattilo said, "We believe we have formed a highly qualified global team which will effectively meet the needs of customers around the world. Cooper's hallmarks of quality products and consistent excellence in customer service will be enhanced by our new global operating structure." Commenting further, Dattilo said, "We have a veteran industry group poised to take Cooper Tire & Rubber Company into the next century with maximum value for our customers and resulting shareholder return."
Company Description
Cooper Tire & Rubber Company is headquartered in Findlay, Ohio and specializes in the manufacture and marketing of rubber and plastic products for consumers. Products for the Cooper Tire group include automobile and truck tires, inner tubes, tread rubber and equipment for the replacement market. In the automotive group, Cooper-Standard is an original equipment supplier of sealing, trim, vibration control and hose systems for the automotive industry in North America, Europe and South America. Other products for this group include rubber and plastic sealing components for the refrigeration industry in North America. Cooper has more than 20,000 employees and 50 manufacturing facilities in nine countries. For more information, visit the company's web site at: www.coopertire.com.
Forward-Looking Statements
This report contains forward-looking statements regarding expectations for future financial performance which involve uncertainty and risk. It is possible the company's future financial performance may differ from expectations due to a variety of factors including, but not limited to: changes in economic and business conditions in the world, increased competitive activity, achieving sales levels to fulfill revenue expectations, consolidation among its competitors and customers, technology advancements, unexpected costs and charges, fluctuations in raw material and energy prices, changes in interest and foreign exchange rates, regulatory and other approvals, the cyclical nature of the automotive industry, risks associated with integrating the operations of The Standard Products Company and the failure to achieve synergies or savings anticipated in the merger, and other unanticipated events and conditions.
It is not possible to foresee or identify all such factors. Any forward-looking statements in this report are based on certain assumptions and analyses made by the company in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Prospective investors are cautioned that any such statements are not a guarantee of future performance and actual results or developments may differ materially from those projected. The company makes no commitment to update any forward-looking statement included herein, or to disclose any facts, events or circumstances that may affect the accuracy of any forward-looking statement.
Editor's Note: Brief biographies and photos of the aforementioned senior staff are available upon request by contacting: dacrow@coopertire.com, or by calling: 419-427-4857.