Cooper buys Teknor Apex's tread rubber assets

FINDLAY, Ohio (July 26)—Cooper Tire & Rubber Co. has purchased certain retread-related assets of Teknor Apex Co. and will integrate them into its existing Oliver Retreading Systems and Products business unit. The acquisition does not include any facilities. Terms of the deal were not released, and Cooper declined to comment on the size of the business being acquired. "This acquisition will enhance the reach of our tread rubber network," Larry Enders, president of Cooper's Commercial Products Division, said in a prepared statement. "We believe independent commercial service dealers need and want a competitive alternative to the franchises and packaged pricing programs." Shipments to Teknor Apex dealers will begin immediately, Cooper said. A handful of Teknor Apex field sales staff will join Cooper in the deal.