Cooper Tire & Rubber Company (NYSE: CTB) has completed its purchase of a 65 percent interest in China-based Qingdao Ge Rui Da Rubber Co., Ltd. (GRT) under terms that were previously announced. GRT produces truck and bus radial (TBR) tires for global markets and will manufacture TBR tires to meet Cooper's customer needs in North America, as well as in Asia and other markets. In the future, passenger car radial tires may also be manufactured at the one-million-square-foot GRT facility, which has room for further expansion. "Our partnership with GRT is an important step in Cooper's strategic plan as it diversifies our TBR tire supply beyond a single source," said President & Chief Executive Officer Brad Hughes. "Cooper is committed to delivering high quality tires with superior value to our TBR customers. In addition to this exciting new partnership with GRT, we continue to actively evaluate other options around the globe for additional sources of supply. We are pleased with the team at GRT as they possess deep industry and technical knowledge and there is a strong workforce in place at the facility, which offers space for expansion to accommodate future growth. We are proud to welcome everyone at GRT into the Cooper family and look forward to many years of success together." Forward-Looking Statements This release contains what the company believes are "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995, regarding projections, expectations or matters that the company anticipates may happen with respect to the future performance of the industries in which the company operates, the economies of the United States and other countries, or the performance of the company itself, which involve uncertainty and risk. Such "forward-looking statements" are generally, though not always, preceded by words such as "anticipates," "expects," "will," "should," "believes," "projects," "intends," "plans," "estimates," and similar terms that connote a view to the future and are not merely recitations of historical fact. Such statements are made solely on the basis of the company's current views and perceptions of future events, and there can be no assurance that such statements will prove to be true.