Tire maker Apollo Tyres and Indian tire manufacturer Cooper Tire & Rubber, based in the United States has said it will acquire Apollo Cooper deal worth $ 2.5 billion in cash, which its turn became the tire maker's seventh largest in the world.
The two companies said the deal will include additional production lines and markets. Apollo will be paid to shareholders of Cooper 35 USD / share.
Apollo chairman Onkar Kanwar said: "This acquisition creates an opportunity unmatched customer service in all markets, both developed markets and emerging markets growing in the world." Apollo is based in Gurgaon, just outside the capital New Delhi.
Meanwhile, senior executive officer of Armes Roy Cooper called the deal a "compelling business" serving the best interests of its shareholders and provide resources for staff. Mr Armes said: "Our two organizations have almost no overlapping markets and therefore have significant growth opportunities."
Apollo tire manufacturer Apollo and Vredestein brand while brands including Cooper Cooper, MASTERCRAFT, Starfire, Chengshan, roadmaster and Avon. /.
No comments:
Post a Comment