FINDLAY, Ohio, Feb. 17 /PRNewswire-FirstCall/ -- COOPER TIRE & RUBBER
COMPANY (NYSE: CTB) and American Kenda Rubber Industrial Co., Ltd. (d.b.a.
Kenda USA Corporation) today announced that effective May 1, 2009, they will
be ending their marketing and distribution arrangement with the Kenda brand in
the United States and Canada, and at that time, Kenda will resume
responsibility for the sales and marketing, distribution and customer service
for the Kenda brand.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010404/COOPERLOGO )
Since November 2004, Cooper has been the exclusive marketer of Kenda
radial passenger and light truck tires in the United States and Canada. That
agreement granted Cooper exclusive rights to market, sell and distribute
Kenda's radial passenger and radial light truck tires.
"The decision to end our marketing and distribution relationship was a
mutual decision between Cooper and Kenda," said Phil Caris, Vice President of
Sales and Marketing at Cooper. "And while the results of the joint venture
were positive, it was agreed that a new approach would be beneficial in
pursuing each company's brand strategy. We have been very happy with our
relationship with Kenda. As we begin to look into the future, we felt this
strategy put both companies in a better position in this tough economic
environment."
Jimmy Yang, President of Kenda USA, said, "Over the past few years, the
Kenda-Cooper relationship has been beneficial for all parties involved. We are
looking forward to the new direction of 're-launching' our brand in the United
States. As we take over the marketing activities for our brand, there is
opportunity for growth in the US without having to change our distribution
infrastructure. The Cooper-Kenda partnership has definitely added value for
the Kenda brand and will continue to help Kenda's growth in the tire market."
Transition for Cooper Tire dealers will be handled with a minimum of
change and disruption so that customer service will not be affected. Both
companies will continue as partners in the radial passenger and light truck
tire plant in China, and technical and other related matters.
About Cooper Tire & Rubber Company
Cooper Tire & Rubber Company is a global company that specializes in the
design, manufacture, marketing and sales of passenger car and light truck
tires and subsidiaries that specialize in medium truck, motorcycle and racing
tires. With headquarters in Findlay, Ohio, Cooper Tire has manufacturing,
sales, distribution, technical and design facilities within its family of
companies located in 10 countries around the world. For more information,
visit Cooper Tire's web site at: www.coopertire.com.
About Kenda Rubber Industrial Co., LTD.
Kenda Rubber Industrial Co., LTD., headquartered in Yuanlin, Taiwan, is
the world's leading tire and tube manufacturer in Bicycle, Motorcycle,
Agricultural, Trailer, Lawn and Garden, ATV, Golf Cart, Folk Lift, Automobile
and other specialty areas. The Company also produces rubber membrane serving
the water retention and commercial roofing industry under the brand of Pond
King and StaFast Roofing. Kenda employs more than 7,000 people and has 5
manufacturing facilities located in Taiwan, Vietnam and China. For more
information, please visit the Company's web site at: www.kendausa.com.
SOURCE Cooper Tire & Rubber Company
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