FINDLAY, Ohio (June 26)—Cooper Tire & Rubber Co. has reached an agreement to sell all shares of its Holms Industries Inc. plastics subsidiary to a unit of a Chicago-based investment firm. Madison Capital Partners, which has holdings in plastics and capital equipment, has agreed to buy Holms, Cooper said without disclosing terms of the deal. The Findlay-based tire maker did report, however, that the purchase will be made primarily in cash and is expected to be completed by June 30. With 1999 sales of about $120 million, Holms is a producer of extruded plastic goods for the appliance and construction markets and corrugated plastic tubing for the appliance and automotive industries. Holms is the largest unit of Cooper´s Plastics Division, which the firm has announced it will divest.
Cooper to sell Holms units
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