TUPELO • Cooper Tire & Rubber Co. has submitted plans to build additional warehouse space for its sprawling plant on South Green Street.
The company, which employs some 1,400 workers, is investing $3.4 million in the project, which will add a 28,400-square-foot warehouse.
The green tire storage addition, as it’s called, will take up some of the employee parking lot on the northeast corner of the property.
“Cooper Tire Tupelo is undergoing an expansion and has, year-to-date, increased the workforce at the plant,” said Cooper Tire spokeswoman Anne Roman. “This is in response to increasing production needs. We are very pleased to be growing in Tupelo and to have a great workforce locally.”
Daimler selected the Cooper Discoverer SRXLETM as original equipment on the new Mercedes-Benz GLE.
The German automaker introduced the new luxury SUV at the 64th Paris Motor Show last October, and will introduce the vehicle to consumers later this year.
The tire is produced at Cooper’s plant in Tupelo.
Cooper Tire opened its Tupelo plant in 1984. During that time, the facility has produced more than 375 million tires.
In April, the company said sales increased in the first quarter of the year, but saw its profits drop from the same time a year ago.
First-quarter sales totaled nearly $619.2 million, a 2.9 percent gain over the $601.5 million it recorded during the first quarter of 2018. Net income was $7.18 million, or 14 cents per share, compared to $8.9 million, or 16 cents per share, a year earlier.