Cooper acquisition moves Apollo into top ten

The big news this week of course was Apollo Tyres’ acquisition of Cooper Tire & Rubber (Findlay, Ohio) for $2.5 billion in cash. The deal combines the world’s 11th-largest tire company (Cooper) with the 16th largest company (Apollo) to create a company that should rank as the world’s seventh-largest producer, with annual revenues of $6.6 billion based on 2012 results. The acquisition leaves Goodyear as the only US-headquartered producer of passenger and truck tires not owned by a foreign-based company.

Tyrepress.com has some good questions in the wake of the deal.