een in the contribution to revenue over the past three years. In 1999, tires provided 71 percent of the company's revenues. In 2000, tires contributed 52 percent, and by 2001, tires contributed 54 percent of the company's revenues while automotive parts contributed the remaining 46 percent. Tires provided 69 percent of the company's operating profit in 2001, outpacing automotive parts, but the strategy of reducing the reliance on a single product (tires) remains firmly in place at Cooper (Cooper Tire & Rubber 2001 Annual Report, 2002, p. 51).
Beginning in 2000, the company has also sought to refocus its resources on the core businesses of auto parts and tires. To that end, the company sold a seals and gaskets making operation in 2000 as well as a plastic trim producing operation. This not only helped Cooper reduce its non-core businesses, but also provided additional funds that the company could use to acquire other companies more in line with the core business. In this way, the company maintains
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