FINDLAY, Ohio—Cooper Tire & Rubber Co. didn't miss a beat on its growth path after its merger pact with Apollo Tyres Ltd. was terminated six months ago.
It simply moved on and continued to do what it does best: build its business, develop innovative products, and manufacture and sell high quality tires, according to Roy Armes, chairman, CEO and president of the company.
Cooper's goal is sustained operating profit of 8 percent to 10 percent, and its long-term goal is to reach 10 percent annual operating profit and $5 billion to $6 billion in annual net sales. The tire maker posted sales last year of $3.44 billion.
Part of 2013 was filled with obstacles that took some determination and smarts to overcome. But the firm emerged in very good shape, Armes said in a recent interview, citing a solid foundation it has established on which it will grow.
Over the past several years, he said, the company has expanded its global manufacturing footprint and enhanced its technical capabilities, launching well recognized products in the process. “And we have improved the efficiency and cost effectiveness of our manufacturing operations while maintaining a focus on quality and safety.”
That has “positioned us for the next phase of growth, which will be driven by continued initiatives to maintain our global cost competitiveness while continuing to expand our footprint and to drive demand for our products around the world,” Armes said.