Findlay, Ohio-based Cooper Tire & Rubber Company plans to invest USD 55 million in equipment upgrades and the expansion of its factory in Serbia’s Kruševac to produce the larger diameter tires being demanded in Europe and other global markets, the firm says.
The company plans to add 118 new jobs and increase the size of the Kruševac facility (195 km southeast of Belgrade) to more than 882,000 square feet (81,940 sqm), in a project supported by approximately USD 8 mln in incentives provided by the Serbian government, Cooper Tire said.
“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,” president and CEO Brad Hughes said in the company statement.
Total annual production capacity at the Kruševac factory will increase by approximately one-third at completion of the expansion, which is expected later this year, and will establish a footprint which could further double capacity with additional equipment and people, Cooper Tire said.
Cooper acquired the assets of the Kruševac plant in 2012 and has continued to invest in upgrades and expansion projects at the site, the company says.