Cooper Tire & Rubber Co. announced its Chinese joint venture partner, Cooper Chengshan (Shandong) Tire (CCT), will begin to provide financial and operational information needed to meet federal financial reporting requirements.
Cooper says it has “continued work with the joint venture partner and labor union at CCT to restore normal operations as soon as possible.
"Last week, CCT began to ramp up production of Cooper brand tires. We have now received word that CCT will begin the process of entering past and current financial and operational data into company computer systems. Cooper will monitor the data entry to assure that it is taking place properly and that it will continue without interruption.
“While this represents a positive step toward Cooper restoring regular financial reporting, the company continues to work with the labor union and joint venture partner to resolve open issues on a long-term basis. Therefore, at this time, it is premature for Cooper to determine when it will resume regular financial reporting.”