Cooper Tire & Rubber Company has finalized the purchase of certain assets of the Hercules’ retread operations.
Those assets, including inventories, are being acquired for less than $8.5 million U.S., as originally reported. Cooper will use these assets to foster growth of its tread rubber and radial medium truck tires in support of the independent tire dealer.
More than 200 former Hercules retread customers will now have access to the tread rubber products through Oliver, the nation’s second largest retread supplier. “We are making a pledge to the Hercules’ dealers that we will provide a consistent, high quality supply of products so they will be able to continue their operations during our transition. We are happy to say that we are ready to immediately begin shipping products to our new customers and providing the same level of excellent service that all of our retread dealers have come to expect from Oliver,” said Larry Enders, Commercial Division President. Cooper Tire services Oliver retread dealers from three U.S. distribution points: Asheboro, NC, Salt Lake City, UT and Tupelo, MS.
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