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Cooper management locked out of Chinese factory

  • Chinese workers at a joint venture involving Cooper Tire & Rubber (NYSE:CTB) and Chengshan Group have locked out the U.S company's management and withheld "certain business and financial information" in protest at the $2.5B acquisition of Cooper by India's Apollo Tyres.
  • It's a bit of turnaround - usually it's the management who lock out the workers in an industrial dispute.
  • "Neither the strike nor the plant slowdown are expected to have an effect on the consummation of the merger," said Cooper, whose shareholders are due to vote on the deal on September 30.

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