As filed with the Securities and Exchange Commission on April 25, 2000
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 24, 2000
COOPER TIRE & RUBBER COMPANY
(Exact name of registrant as specified in its charter)
DELAWARE 1-4329 34-4297750
(State or other (Commission (I.R.S. employer
jurisdiction of File Number) identification no.)
incorporation)
Lima and Western Avenues, Findlay, Ohio 45840
(Address of principal executive offices)
(Zip Code)
(419) 423-1321
(Registrant's telephone number, including area code)
The Exhibit Index is located at page 3.
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Item 5. Other Events
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Cooper Tire & Rubber Company has announced a definitive agreement has been
reached for the sale of a portion of its automotive plastics division to
Plastech Engineered Products, Inc. (Plastech) for an undisclosed sum to be
paid in cash. The agreement covers the sale of Cooper's entire painted
injection molded plastics business all of which is conducted at its Winnsboro,
South Carolina plant. Under the terms of the agreement, the plant and
equipment, related inventories and certain other assets will be acquired by
Plastech, which will assume the contracts between the business and its
customers and certain specified liabilities. The transaction is expected to
close on Friday, April 28, 2000.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(c) Exhibits. The following exhibit is filed herewith:
Exhibit No. Description
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99 Cooper Tire & Rubber Company press release issued
April 24, 2000
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
COOPER TIRE & RUBBER COMPANY
By: /S/ Eileen B. White
----------------------
Corporate Controller
(Principal Accounting Officer)
April 25, 2000
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(Date)
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EXHIBIT INDEX
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EXHIBIT DESCRIPTION
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99 Cooper Tire & Rubber Company press release issued April 24, 2000
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Exhibit 99
COMPANY CONTACT: PHILIP G. WEAVER FOR IMMEDIATE RELEASE
419-424-4320 APRIL 24, 2000
COOPER TIRE & RUBBER COMPANY TO SELL PORTION OF AUTOMOTIVE PLASTICS DIVISION
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FINDLAY, OHIO, APRIL 24, 2000 - COOPER TIRE & RUBBER COMPANY (NYSE:CTB) today
announced that it has reached a definitive agreement to sell a portion of its
automotive plastics division to Plastech Engineered Products, Inc. (Plastech)
for an undisclosed sum to be paid in cash. The agreement covers the sale of
Cooper's entire painted injection molded plastics business all of which is
conducted at its Winnsboro, South Carolina plant. Under the terms of the
agreement, the plant and equipment, related inventories and certain other
assets will be acquired by Plastech, which will assume the contracts between
the business and its customers and certain specified liabilities. The
transaction is expected to close on Friday, April 28, 2000.
Commenting on the sale, Thomas A. Dattilo, president and chief operating
officer, said, "This is the first action to be taken as a result of our review
of strategic options for our plastics division. We have some very good people
in this plant and wish Plastech continued success as they integrate it into
their operations. We are also proceeding with the sale of our extruded
plastics business and our non-automotive plastics operations. We have
received considerable interest in both and expect further announcements during
the second quarter."
Company Description
Cooper Tire & Rubber Company is headquartered in Findlay, Ohio and specializes
in the manufacture and marketing of automotive products. Products for
Cooper's tire group include automotive, motorcycle and truck tires, inner
tubes, tread rubber and equipment. In the automotive group, Cooper is an
original equipment supplier of sealing, trim, NVH control systems and fluid
handling systems for the automotive industry in North America, Europe,
Australia and South America. Other products for this group include rubber and
plastic sealing components for the refrigeration industry in North America.
Cooper has more than 25,000 employees and 77 manufacturing facilities in
twelve countries. For more information, visit the Company's web site at:
www.coopertire.com.
Forward-Looking Statements
This report contains "forward-looking statements," as that term is defined
under the Private Securities Litigation Reform Act of 1995, regarding
expectations for the future divestitures of the remainder of our plastics
division. It is possible the Company's progress in selling its plastics
division may not result in further announcements during the second quarter or
thereafter.
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