FINDLAY, Ohio -- Cooper Tire & Rubber Co. has announced it will increase its ownership levels in its affiliated Mexico operations. As part of its long-term strategy to produce high-quality, cost-competitive products, Cooper says it will raise its ownership level in Corporacion de Occidente SA de CV., to 58 percent from 38 percent.

This transaction is expected to take effect Jan. 1, 2011, and will result in the entity being fully consolidated in the company's financial results starting in 2011.

The company said it will also be taking full ownership of Cooper Tire & Rubber Co. de Mexico SA de CV., increasing its ownership to approximately 100 percent from 50 percent. This entity conducts sales and marketing in Mexico and will continue to be fully consolidated. The increase in ownership is the result of a capital call by the entity and conversion of an existing loan into equity.

Roy Armes, chairman, CEO and president, stated, "We are extremely pleased with the opportunity to increase our ownership at these entities. This action aligns with the company's strategic plans and should allow us to continue investing and growing these important pieces of the Cooper organization."