Cooper Tire Serbia to invest $55 million in it's manufacturing plant at Krusevac

Specifications:

Name:

Cooper Tire Serbia to invest $55 million in it's manufacturing plant at Krusevac

Location:

Krusevac

Company:

Cooper Tire

Estimated Cost:

$55 million

Source:

coopertire.com

Introduction:

Cooper Tire Serbia, a subsidiary of Cooper Tire & Rubber Company announced it is well underway on a construction project to increase production capacity at its Kruševac tire manufacturing plant. 

Features:

With a strategic manufacturing footprint investment of approximately $55 million (USD) in equipment upgrades and facility expansion, the project will increase the size of the Kruševac facility to more than 882,000 square feet.

In addition, the company plans to add 118 new jobs. The project is supported by approximately $8 million (USD) in incentives provided by the Serbian government.

With this investment Cooper Tire Serbia will be able to produce new, larger diameter tires being demanded in Europe and other global markets. Total annual production capacity at the Kruševac plant will increase by approximately one-third at completion of this expansion, which is expected later this year, and will establish a footprint which could further double capacity with additional equipment and people.

“Cooper Tire Serbia is substantially increasing tire production capacity at our Kruševac site, which is a key facility within Cooper’s global manufacturing network, supplying high quality tires to Europe and other global markets,” said Brad Hughes, Cooper President & Chief Executive Officer. “This project will enable the facility to manufacture light truck tires, including 4x4 tires, and large diameter tires up to 22 inches in addition to the passenger car and sport utility vehicle (SUV) tires it currently produces.”