FINDLAY, Ohio (March 1) — Cooper Tire & Rubber Co. expects sales in 2006 to outpace industry growth, but the firm cautioned that earnings again will be affected negatively by raw material and energy prices.
Nonetheless, Cooper foresees improved results over the 2005 net loss of $9.36 million on the positive effects of improvements in manufacturing efficiencies, product and customer mix and fill rates and increased product sourcing from low-cost sources as well as profitable international operations.
Cooper expects to grow in North America above the projected industry growth of 2 percent, based on "certain customer agreements and the enthusiasm and support from our dealers overall," according to Thomas Dattilo, chairman, president and CEO, who said Cooper´s sales outpaced the industry in January.
In addition, Cooper´s acquisition of majority ownership of Cooper Chengshan (Shandong) Tire Co. in China will add approximately $500 million in profitable sales annually, he said.