TUPELO, Miss. (WTVA) — Goodyear announced Monday it is buying Cooper Tire in a deal valued at $2.8 billion, meaning that one of the area's largest employers will soon change hands.
Cooper Tire is the fifth-largest tire manufacturer in the United States, and Goodyear said the deal strengthens its position as the leader in the U.S tire industry.
Cooper Tire is the fourth largest employer in Lee County, according to the Community Development Foundation.
The tire maker employs 1,720 people and its manufacturing plant has had a long time presence in Tupelo.
In announcing the deal, Goodyear indicated it would keep the Cooper Tire brand.