From Tire Review Staff & Wire Reports
CLARKSDALE, MISS — Citing a “continuous decline” in the inner-tube market, Cooper Tire and Rubber Co. announced plans to cease production of inner tubes at its plant in Clarksdale, Miss., effective November 12.
The decision will ultimately result in the loss of nearly 130 jobs, according to a U.S. Securities and Exchange Commission filing. Also according to the filing, Cooper Tire will take a $7 million charge in the third quarter for severances, asset write-downs and other costs.
Cooper Tire, based in Findlay, Ohio, said it would continue to produce curing bladders at the Clarksdale plant. The facility, operated by Cooper Tire since 1956, also supplies mixing operations for other Cooper Tire locations.
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