Cooper Tire & Rubber Company Interview On wallstreetreporter.com

23 December 1999

Cooper Tire & Rubber Company Interview On wallstreetreporter.com

    FINDLAY, Ohio--Dec. 23, 1999--COOPER TIRE & RUBBER COMPANY today announced that its chairman and CEO, Patrick W. Rooney and president and COO, Thomas A. Dattilo were featured in an interview with the online financial forum, WallStreetReporter.com.
    In this interview, which can be heard at www.wallstreetreporter.com, these executives discuss Cooper's recent acquisition announcements. In late October, Cooper acquired The Standard Products Company, headquartered in Dearborn, Michigan. In November, Cooper announced the intended purchase of Siebe Automotive, the automotive fluid handling division of Invensys, located in Southfield, Michigan. Annualized, these acquisitions will propel Cooper from a $1.9 billion company, as reported in 1998, to nearly $3.8 billion. The interview addresses how Cooper will digest these two automotive groups, the impact on its traditional tire focus and the plan to continue Cooper's growth into the next century.

    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 Cooper's tire group include automobile, motorcycle and truck tires, inner tubes, tread rubber and equipment for the replacement market. In the automotive group, Cooper 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 as well as other countries. 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 automotive fluid handling division of Invensys, and the failure to achieve synergies or savings anticipated in both acquisitions, 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.