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
Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].